15 USC 4302 – Rule of reason standard
In any action under the antitrust laws, or under any State law similar to the antitrust laws, the conduct of—
(1) any person in making or performing a contract to carry out a joint venture, or
(2) a standards development organization while engaged in a standards development activity,
shall not be deemed illegal per se; such conduct shall be judged on the basis of its reasonableness, taking into account all relevant factors affecting competition, including, but not limited to, effects on competition in properly defined, relevant research, development, product, process, and service markets. For the purpose of determining a properly defined, relevant market, worldwide capacity shall be considered to the extent that it may be appropriate in the circumstances.
Terms Used In 15 USC 4302
- Contract: A legal written agreement that becomes binding when signed.
- State: means a State, the District of Columbia, the Commonwealth of Puerto Rico, or any other territory or possession of the United States. See 1 USC 7