After a long legal saga, TikTok has established a majority American-owned joint venture to operate its U.S. business, deflecting the threat of a ban over its Chinese ownership.

Here is a look at the potential consequences of the deal — if any — for users and beyond:

Whether the 200 million users in the United States will notice any difference in their online experience remains unclear. After the deal, users don't need to download a new app, though they were prompted to accept new terms of service covering "new types of location information" and data usage.