A bill to require the United States Trade Representative to monitor transfers of technology between the United States and foreign countries, and for other purposes.

Requires the U.S. Trade Representative in conjunction with the National Science Foundation to: (1) monitor the transfer of technology between the United States and foreign countries; and (2) report annually to specified congressional committees on such transfers.

Requires the Secretary of Commerce (Secretary) to designate a Foreign Commercial Service Officer in a foreign country to monitor and report on the status of the intellectual property system in such country.

Amends the Foreign Assistance Act of 1961 to authorize the President to furnish assistance for programs to aid less developed countries in developing and implementing adequate intellectual property laws and in developing their own indigenous technology. Requires the Secretary to identify the technical assistance needs of such countries.

Requires the Secretary to establish the United States Intellectual Property Training Institute to train individuals of developing countries in both management and technical skills regarding the protection of intellectual property. Provides for financing the Institute.