1. Short title This Act may be cited as the American Innovation and Choice Online Act . 2. Definitions (a) In general In this Act: (1) Antitrust laws; person The terms antitrust laws and person have the meanings given the terms in subsection (a) of the first section of the Clayton Act ( 15 U.S.C. 12 ). (2) Business user The term business user — (A) means a person that uses or is likely to use a covered platform for the advertising, sale, or provision of products or services, including such persons that are operating a covered platform or are controlled by a covered platform operator; and (B) does not include a person that— (i) is a clear national security risk; or (ii) is organized under the laws of or controlled by the Government of the People's Republic of China or the government of a foreign adversary. (3) Commission The term Commission means the Federal Trade Commission. (4) Control The term control means, with respect to a person— (A) holding 25 percent or more of the stock of the person; (B) having the right to 25 percent or more of the profits of the person; (C) in the event of the dissolution of the person, having the right to 25 percent or more of the assets of the person; (D) if the person is a corporation, having the power to designate 25 percent or more of the directors of the person; (E) if the person is a trust, having the power to designate 25 percent or more of the trustees; or (F) otherwise exercising substantial control over the person. (5) Covered platform The term covered platform means an online platform that— (A) has been designated as a covered platform under section 3(d); or (B) is owned or controlled by a person that— (i) at any point during the 12 months preceding a designation under section 3(d) or the 12 months preceding the filing of a complaint for an alleged violation of this Act has at least— (I) 50,000,000 United States-based monthly active users on the online platform; or (II) 100,000 United States-based monthly active business users on the online platform