Yesterday, we learned that the terms Apple set for the new iAd platform to be introduced with iOS4 were designed in such a way that many of Apple’s competitors – including Google – are excluded from eligibility. Specifically, the terms say that you cannot serve ads that would collect usage data unless you’re a third-party ad agency.

That would now exclude Google’s newly-acquired AdMob, among other potential servers such as Microsoft and RIM who – by chance – just happen to be some of Apple’s competitors on more fronts than one.

Federal regulators are wary of this being unfair, however, and they’re set to investigate whether or not Apple has the right to do such a thing. Whether or not they do remains to be seen, but at least Google’s being given a fair chance after the loopholes they had to get through to acquire AdMob in the first place.

[Financial Times via All Things D]