We consider decentralized multiantenna cognitive radio networks where the secondary (cognitive) users are granted simultaneous spectrum access along with the license-holding (primary) users. We treat the problem of distributed beamforming and rate allocation for the secondary users such that the minimum weighted secondary rate is maximized. Such an optimization is subject to 1) a limited weighted sum-power budget for the secondary users and 2) guaranteed protection for the primary users in the sense that the interference level imposed on each primary receiver does not exceed a specified level. Based on the decoding method deployed by the secondary receivers, we consider three scenarios for solving this problem. In the first scenario, each secondary receiver decodes only its designated transmitter while suppressing the rest as Gaussian interferers (single-user decoding). In the second case, each secondary receiver employs the maximum likelihood decoder (MLD) to jointly decode all second...