The License Monopoly Prevention Act requires the Commerce Department's Bureau of Industry and Security to conduct a competitive market review before issuing export licenses for sensitive emerging and foundational technologies to foreign entities. When reviewing a license application, the bureau must determine whether approving it would give a single company an exclusive right to sell a particular technology to a specific foreign buyer, and can only issue such a "monopoly license" after certifying to Congress that no competing applications exist or that other applications involve substantially different technologies. The bill also requires the bureau to consult with the International Trade Administration during this review process and mandates that subsequent applications for the same technology must be approved unless they create new national security risks. This legislation aims to prevent the Commerce Department from inadvertently favoring certain companies over competitors and to maintain fairness and credibility in the export licensing system.
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