Joint Research and Development Ventures Act

[AI summary unavailable — showing source text] Joint Research and Development Ventures Act - Allows business concerns to request and obtain the approval of the Attorney General before initiating any joint research and development venture. Directs the Attorney General to approve such a venture if: (1) participation is open to all domestic firms and domestic subsidiaries of foreign firms; (2) the results of such venture will be available to all firms in the industry whether or not such firms are members; (3) the venture will not decrease competition to such an extent as to prevent existing or potential competitors from participating in the market; (4) restraints are imposed no longer than necessary and are not part of a pattern of restrictive agreements that have unwarranted anticompetitive effects; and (5) the venture does not violate the Federal Trade Commission Act. Authorizes the Attorney General to: (1) approve such a venture even if individual firm research or competitive smaller joint research and development ventures are feasible; (2) withdraw approval of part or all of a joint program by giving the applicants notice of such action and a written copy of the findings; and (3) approve a venture that does not provide access …