Cite as: 526 U. S. 756 (1999)
Opinion of the Court
rule-of-reason analysis.5 524 U. S. 980 (1998). We now vacate the judgment of the Court of Appeals and remand.
II
The FTC Act gives the Commission authority over "per-sons, partnerships, or corporations," 15 U. S. C. § 45(a)(2), and defines "corporation" to include "any company . . . or association, incorporated or unincorporated, without shares of capital or capital stock or certificates of interest, except partnerships, which is organized to carry on business for its own profit or that of its members," § 44. Although the Circuits have not agreed on the precise extent of this definition, see n. 4, supra, the Commission has long held that some circumstances give it jurisdiction over an entity that seeks no profit for itself. While the Commission has claimed to have jurisdiction over a nonprofit entity if a substantial part of its total activities provides pecuniary benefits to its members, see In re American Medical Assn., 94 F. T. C. 701, 983-984 (1980), respondent now advances the slightly different formulation that the Commission has jurisdiction "over anticompetitive practices by nonprofit associations whose activities provid[e] substantial economic benefits to their for-profit members' businesses." Brief for Respondent 20.
Respondent urges deference to this interpretation of the Commission's jurisdiction as reasonable. Id., at 25-26 (citing Chevron U. S. A. Inc. v. Natural Resources Defense Council, Inc., 467 U. S. 837 (1984), Mississippi Power & Light Co. v. Mississippi ex rel. Moore, 487 U. S. 354, 380-382
F. 2d 485, 487-488 (CA7 1975), with Community Blood Bank v. FTC, 405 F. 2d 1011, 1017 (CA8 1969).
5 Cf. Bogan v. Hodgkins, 166 F. 3d 509, 514, and n. 6 (CA2 1999); United States v. Brown University, 5 F. 3d 658, 669 (CA3 1993); Chicago Professional Sports Limited Partnership v. National Basketball Assn., 961 F. 2d 667, 674-676 (CA7 1992); Law v. National Collegiate Athletic Assn., 134 F. 3d 1010, 1020 (CA10 1998); U. S. Healthcare, Inc. v. Healthsource, Inc., 986 F. 2d 589, 594-595 (CA1 1993).
765
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