A bill to prohibit the designation of countries as beneficiary developing countries under title V of the Trade Act of 1974 unless adequate and effective protection is provided for United States patent, trademark and copyright rights.

Amends the Trade Act of 1974 to prohibit the President from designating a country as a beneficiary developing country if the country fails to provide adequate and effective means for foreign nationals to exercise exclusive rights in intellectual property (including patent, trademark, and copyright rights) unless the country assures the President that it is taking steps to provide such means and the President reports such assurances to Congress.

Directs the President, in determining whether to designate a country a beneficiary developing country, to consider the extent to which such country is providing means for foreign nationals to exercise exclusive rights in intellectual property (including patent, trademark, and copyright rights).

Requires the President to determine, by January 1, 1986, whether each beneficiary developing country satisfies the requirement relating to protection of intellectual property rights of foreign nationals. Directs the President to terminate a country's designation as a beneficiary developing country if the country fails to satisfy those requirements. Requires the President to report annually to Congress on the extent to which assurances on protection of intellectual property rights have been satisfied.