Joint Research and Development Ventures Act

[AI summary unavailable — showing source text] Joint Research and Development Ventures Act - Allows U.S. firms to conduct cooperative research and development programs by establishing qualified joint research and development ventures which shall be exempt from the antitrust laws. Includes as a U.S. firm any entity controlled by foreign firms or citizens if their nation provides U.S. firms and citizens equivalent access to research and development efforts in that nation. States the requirements for qualified ventures, including: (1) the use of identical terms for the same levels of participation by firms; (2) the identification of each research and development program to be conducted, and the contributions required, for a firm's participation in each program; and (3) a finding by the Department of Commerce that the participation of any firm that accounts for a large specified percentage of worldwide industry sales of a product is critical to the program's success, is in the national interest, and will not directly affect future production of such product; and (4) the notification of the Attorney General and the Department of Commerce of the formation of a venture, the parties to the venture, the programs to be conducted, the par…