SEC. 4. RULE OF REASON STANDARD. 
Section 3 of the National Cooperative Research and 
Production Act of 1993 (15 U.S.C. 4302) is amended by 
striking ‘‘of any person in making or performing a con-
tract to carry out a joint venture shall’’ and inserting the 
following: ‘‘of—
‘‘(1) any person in making or performing a con-
tract to carry out a joint venture, or 
‘‘(2) a standards development organization 
while engaged in a standards development activity, 
shall’’. 
SEC. 5. LIMITATION ON RECOVERY. 
Section 4 of the National Cooperative Research and 
Production Act of 1993 (15 U.S.C. 4303) is amended—
(1) in subsections (a)(1), (b)(1), and (c)(1) by 
inserting ‘‘, for a standards development activity en-
gaged in by a standards development organization 
against which such claim is made’’ after ‘‘joint ven-
ture’’, and 
(2) in subsection (e)—
(A) by inserting ‘‘, or of a standards devel-
opment activity engaged in by a standards de-
velopment organization’’ before the period at 
the end, and 
(B) by redesignating such subsection as 
subsection (f), and
(3) by inserting after subsection (d) the fol-
lowing: 
‘‘(e) Subsections (a), (b), and (c) shall not be con-
strued to modify the liability under the antitrust laws of 
any person (other than a standards development organiza-
tion) who—
‘‘(1) directly (or through an employee or agent) 
participates in a standards development activity with 
respect to which a violation of any of the antitrust 
laws is found, 
‘‘(2) is not a fulltime employee of the standards 
development organization that engaged in such ac-
tivity, and 
‘‘(3) is, or is an employee or agent of a person 
who is, engaged in a line of commerce that is likely 
to benefit directly from the operation of the stand-
ards development activity with respect to which such 
violation is found.’’. 
SEC. 6. ATTORNEY FEES. 
Section 5 of the National Cooperative Research and 
Production Act of 1993 (15 U.S.C. 4304) is amended—
(1) in subsection (a) by inserting ‘‘, or of a 
standards development activity engaged in by a 
standards development organization’’ after ‘‘joint 
venture’’, and
(2) by adding at the end the following: 
‘‘(c) Subsections (a) and (b) shall not apply with re-
spect to any person who—
‘‘(1) directly participates in a standards devel-
opment activity with respect to which a violation of 
any of the antitrust laws is found, 
‘‘(2) is not a fulltime employee of a standards 
development organization that engaged in such ac-
tivity, and 
‘‘(3) is, or is an employee or agent of a person 
who is, engaged in a line of commerce that is likely 
to benefit directly from the operation of the stand-
ards development activity with respect to which such 
violation is found.’’. 
SEC. 7. DISCLOSURE OF STANDARDS DEVELOPMENT AC-
TIVITY. 
Section 6 of the National Cooperative Research and 
Production Act of 1993 (15 U.S.C. 4305) is amended—
(1) in subsection (a)—
(A) by redesignating paragraphs (1), (2), 
and (3) as subparagraphs (A), (B), and (C), re-
spectively, 
(B) by inserting ‘‘(1)’’ after ‘‘(a)’’, and 
(C) by adding at the end the following:
‘‘(2) A standards development organization may, not 
later than 90 days after commencing a standards develop-
ment activity engaged in for the purpose of developing or 
promulgating a voluntary consensus standards or not later 
than 90 days after the date of the enactment of the Stand-
ards Development Organization Advancement Act of 
2003, whichever is later, file simultaneously with the At-
torney General and the Commission, a written notification 
disclosing—
‘‘(A) the name and principal place of business 
of the standards development organization, and 
‘‘(B) documents showing the nature and scope 
of such activity. 
Any standards development organization may file addi-
tional disclosure notifications pursuant to this section as 
are appropriate to extend the protections of section 4 to 
standards development activities that are not covered by 
the initial filing or that have changed significantly since 
the initial filing.’’, 
(2) in subsection (b)—
(A) in the 1st sentence by inserting ‘‘, or 
a notice with respect to such standards develop-
ment activity that identifies the standards de-
velopment organization engaged in such activity