Joint Research and Development Ventures Act

[AI summary unavailable — showing source text] Joint Research and Development Ventures Act - Requires U.S. citizens and firms to request and obtain the approval of the Attorney General in order to gain an antitrust exemption for a joint research and development venture. Directs the Attorney General to approve such a venture, within 60 days, if: (1) participation is open to all U.S. firms and all domestic subsidiaries of firms of foreign nations that provide equivalent access to U.S. firms operating in such nations; (2) the results of such venture will be made available to all firms within six years after the venture receives title to any invention patent, or methodology; (3) any restraints are imposed for only as long as is necessary for the lawful purpose of the venture and are not part of restrictive agreements having unwarranted anticompetitive effects; (4) no participant is subject to any restriction on its own research and development activities or any obligation to provide the venture results of its previous or future research and development; and (5) such venture will not lessen competition to the extent of foreclosing competitors from participating in a market. Authorizes the Attorney General to withdraw or modify appro…