A bill to supplement the Federal Trade Commission Act by amending it to increase competition, promote interstate and foreign commerce, prevent unreasonable restraints on commerce and the commercial working of technology advancements, to protect the freedom of employment for scientists and engineers.

[AI summary unavailable — showing source text] Makes it an unfair practice, under the Federal Trade Commission Act, for the owner of a United States patent or licensee with sublicensing rights to refuse to license such patent (together with the know-how necessary for the best modes of working the subject matter of the patent) to any applicant on reasonable and nondiscriminatory terms, when the effect of such refusal may substantially lessen commerce, and the patented subject matter meets the criteria enumerated in this Act. Makes it an unfair practice for any corporation to enter into any contract with any employee which provides that such employee shall not engage in any trade or profession subsequent to the termination of his employment, where the effect of such provision may be substantially to lessen competition, tend to create a monopoly, or substantially lessen the opportunity of such employee to pursue his livelihood. Directs the Federal Trade Commission to prescribe rules and regulations as may be necessary for carrying out the purposes of this Act. Provides that the Office of Management and Budget shall not inspect the subpenas, general or special orders, records, work, or congressional recommendations or testimony of …