Playwrights Licensing Antitrust Initiative Act of 2005

Playwrights Licensing Antitrust Initiative Act of 2005 - Provides that the antitrust laws shall not apply to: (1) any joint discussion, consideration, review, action, or agreement between or among playwrights for the express purpose of developing a standard form contract containing minimum terms of artistic protection and levels of compensation for playwrights or any joint or collective voluntary actions for the limited purposes of developing a standard form contract by playwrights or their representatives; and (2) any joint discussion, consideration, review, or action for the express purpose of reaching a collective agreement among playwrights adopting a standard form contract as the sole and exclusive means by which participating playwrights shall license their plays to producers.

Makes a standard form of contract developed and implemented under this Act subject to amendment by individual playwrights and producers consistent with its terms.