Office of Intellectual Property and Competition Policy Act of 2004 - Amends the State Department Basic Authorities Act of 1956 to establish an Office of Intellectual Property and Competition Policy in the Department of State. Transfers to the Office all functions of the Intellectual Property and Competition Policy (IPC) Division of the Bureau of Economic and Business Affairs of the Department of State. Provides that the Office has primary responsibility within the Department of State to: (1) develop and implement policies to promote effective intellectual property rights protection worldwide; and (2) provide technical assistance to foreign countries to implement such policies.