Congress is considering proposed antitrust legislation known as the American Innovation and Choice Online Act, or the self-preferencing bill. If enacted, the bill would prohibit some of the largest American internet platforms from adopting certain practices that would give preference to their own products, services or lines of business over those offered by other users of those platforms.

Some things to know:
➡️ Although the bill has attracted stiff opposition, pressure is mounting to bring it to a floor vote before Congress leaves for its August recess.
➡️ The bill would apply to any covered platform defined as a “website, online or mobile application, operating system, digital assistant, or online service” with at least 50 million monthly active users — or 100,000 monthly active business users — and an annual market capitalization or U.S. net sales over $550 billion.
➡️ It would apply so long as the platform has either been designated as a covered platform by the Federal Trade Commission and the U.S. Department of Justice or is otherwise deemed a critical trading partner based on additional criteria.

Read more about how the bill may affect tech mergers in a recent Law360 article by Benjamin Dryden, John Nagle and myself here.