Bonus points if companies are also required to allow users to import data in those formats. That would make it easier to avoid being locked into a specific platform: export your data from the old one, import it into the new one.
Before you say that this is impractical -- Google requires that other companies submit data to it in very specific formats (eg, product listings), so I don't see why governments can't impose similar requirements on companies, too.
It probably wouldn't be applicable for companies with highly-specific data models, though.