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Web clients and servers transfer data using a standard known as the Hypertext Transfer Protocol ("HTTP").

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Most Web pages are in the form of "hypertext"; that is, they contain annotated references, or "hyperlinks," to other Web pages.

Hyperlinks can be used as cross-references within a single document, between documents on the same site, or between documents on different sites. Typically, one page on each Web site is the "home page," or the first access point to the site.

In particular, Web browsers provide a way for a user to view hypertext documents and follow the hyperlinks that connect them, typically by moving the cursor over a link and depressing the mouse button. Although certain Web browsers provided graphical user interfaces as far back as 1993, the first widely-popular graphical browser distributed for profit, called Navigator, was brought to market by the Netscape Communications Corporation in December 1994. Currently there are no products, nor are there likely to be any in the near future, that a significant percentage of consumers world-wide could substitute for Intel-compatible PC operating systems without incurring substantial costs.

Microsoft introduced its browser, called Internet Explorer, in July 1995. Furthermore, no firm that does not currently market Intel-compatible PC operating systems could start doing so in a way that would, within a reasonably short period of time, present a significant percentage of consumers with a viable alternative to existing Intel-compatible PC operating systems.

The home page is usually a hypertext document that presents an overview of the site and hyperlinks to the other pages comprising the site. PCs typically connect to the Internet through the services of Internet access providers ("IAPs"), which generally charge subscription fees to their customers in the United States. Online services ("OLSs") such as America Online ("AOL"), Prodigy, and the Microsoft Network ("MSN") offer, in addition to Internet access, various services and an array of proprietary content.

Internet service providers ("ISPs") such as Mind Spring and Netcom, on the other hand, offer few services apart from Internet access and relatively little of their own content. A "Web client" is software that, when running on a computer connected to the Internet, sends information to and receives information from Web servers throughout the Internet.When the International Business Machines Corporation ("IBM") selected MS-DOS for pre-installation on its first generation of PCs, Microsoft's product became the predominant operating system sold for Intel-compatible PCs. In 1985, Microsoft began shipping a software package called Windows.The product included a graphical user interface, which enabled users to perform tasks by selecting icons and words on the screen using a mouse.It follows that, if one firm controlled the licensing of all Intel-compatible PC operating systems world-wide, it could set the price of a license substantially above that which would be charged in a competitive market and leave the price there for a significant period of time without losing so many customers as to make the action unprofitable. Microsoft enjoys so much power in the market for Intel-compatible PC operating systems that if it wished to exercise this power solely in terms of price, it could charge a price for Windows substantially above that which could be charged in a competitive market.Therefore, in determining the level of Microsoft's market power, the relevant market is the licensing of all Intel-compatible PC operating systems world-wide. Moreover, it could do so for a significant period of time without losing an unacceptable amount of business to competitors.This document is available in three formats: this web page (for browsing content), PDF (comparable to original document formatting), and Word Perfect 5.1.