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In February 2000, DaimlerChrysler, Ford Motor Company and General Motors Co jointly announced plans to combine efforts and form a global on-line business-to-business (B2B) exchange. The goal of the exchange was to provide original equipment manufacturers and suppliers with the ability to reduce costs in their respective supply chains and bring efficiencies to their business operations. A few months after the announcement, Renault SA, Nissan Japan and several top-tier automotive parts suppliers voiced their support and planned to join the exchange. The founders coined the name ''Covisint'' for the exchange. In July 2000, the Federal Trade Commission (FTC) in Washington launched an investigation into Covisint''s structure and mission, to explore any possible anti-trust implications. The FTC was aware that Covisint''s founders represented a large share of the automotive market. Given the influence of the big players, the FTC feared that small companies could be excluded from the market, and that the exchange could provide a channel for the improper transfer of sensitive information among the participants. Covisint was the first B2B venture to be reviewed by the FTC. The outcome of the case and the issues raised sparked widespread debate about how, or whether, the B2B industry should be regulated by anti-trust provisions. The case also raised concerns from companies that intend to invest or participate in B2B trading platforms.