Intellectual Property Rights Improvement Act of 1986

Intellectual Property Rights Improvement Act of 1986 - (No Title I.) Title II: Technology Licensing Under the Antitrust Laws - Amends the Clayton Act to permit licensing agreements for patented inventions, trade secrets, knowhow, or rights in protected maskworks.

Title III: Elimination, in Certain Section 337 Cases of Requirement of Injury to a United States Industry - Amends the Tariff Act of 1930 to declare that acts of importation into, or sale in, the United States of articles that infringe a valid U.S. patent, copyright, trademark, U.S. maskwork, or trade secret are unlawful whether or not they have the effect of destroying or substantially injuring a U.S. industry or impairing the establishment of such industry. Permits any person to petition the International Trade Commission (ITC) for the issuance of an order to exclude such articles, during its investigation, from entry into the United States. Sets forth: (1) civil penalties for violations under this Act; and (2) procedures for the modification or rescission of an ITC order under this Act.

Repeals a specified section of the Tariff Act of 1930 relating to the importation of products produced under a process covered by claims of an unexpired patent.

Title IV: Process Patents - Amends the patent laws to prohibit the use, sale, or importation of products made through the unauthorized use of a patented process.

Title V: Patent Term Restoration for Certain Agricultural and Chemical Products - Amends the patent laws to extend the terms of patents which encompass specified products or methods for using a product, including methods of manufacturing, any of which are subject to certain nonpatent regulatory review periods. Sets forth the terms and conditions of such extension, including a five-year limitation on the extension and a 25-year maximum patent term from the earliest filing.

Directs the Commissioner of Patents to notify the appropriate Federal agency upon receipt from a product sponsor of a notice of extension. Requires the notified agency to determine the applicable regulatory review period. Permits the appropriate Secretary or Administrator to establish fees to cover review costs.

Directs the Commissioner, upon a final determination of the applicable regulatory review period, to issue to the owner of record of a patent a certificate of extension stating the fact and length of the extension and identifying the product and the use and the claim to which such extension is applicable. Makes such certificate a part of the original patent.

Restricts the disclosure of any data submitted during the regulatory review period which is designated as a trade secret or confidential.

Limits the application of such patent term extension to patents for: (1) any new animal drug or antibiotic subject to regulation under the Federal Food, Drug, and Cosmetic Act; (2) any veterinary biological product subject to regulation under the Virus-Serum-Toxin Act; (3) any pesticide subject to regulation under the Federal Insecticide, Fungicide, and Rodenticide Act; and (4) any chemical substance or mixture subject to regulation under the Toxic Substances Control Act.

Title VI: Patent Misuse - Amends the patent laws to specify conduct which does not interfere with a patent owner's entitlement to relief for patent infringement, including refusal to license, excessive or inconsistent royalty fees, and other anticompetitive activities.

Title VII: Licensee Challenges to Patent Validity - States that a licensee shall not be estopped from asserting in a judicial action the invalidity of any patent to which it is licensed.