The National Cooperative Research Act provides that:

A) joint ventures in the research and development of new technology are to be judged under the rule of reason test.
B) treble damages apply to all joint ventures formed in violation of the antitrust laws.
C) joint venture participants must under all circumstances report their intent to the Justice Department.
D) joint ventures formed to divide markets and fix prices are not illegal.

Research and Development

A systematic activity combining both basic and applied research, and aimed at discovering solutions to problems or creating new goods and knowledge.

Rule of Reason

A doctrine developed by the United States Supreme Court in antitrust litigation, which states that not all actions deemed to restrain trade are automatically illegal, but must be evaluated on a case-by-case basis.

Joint Ventures

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity, with profits and losses shared among them.