No, I meant exactly what I said, "industry standard format".  What is it and who controls it?

Alter, usually if you have standards though it is decided by a group of interested parties who agree on it.  CSS3 and HTML5 for example.  Anyway, here are some places to start if you are interested in the subject:  http://www.web3d.org/  and http://www.siggraph.org/ and https://www.khronos.org/