This paper tries to view the construction of industrial associations from the perspectives of Interest Groups Theory, Legitimacy Theory and Governance Theory which are all relative to Institutional Theory using deductive method. Specifically, there are three sub-perspectives to Interest Group Theory, namely politics, economics and sociology. There are three dimensions to Legitimacy Theory, namely regulative legitimacy, normative legitimacy and cognitive legitimacy. And there are two streams to the governance theory of clusters, namely network governance and value chain governance. The possible relationship between them can be depicted as the findings from Legitimacy Theory are the essential conditions for exerting functions deducted from the other two theoretical perspectives. Basically, the former is the foundation of the latter.