Want more jobs? Fix the broken patent system

David Goldman
Staff writer, CNNMoney

NEW YORK (CNNMoney.com) - After decades of inaction, lawmakers are finally closing in on a sweeping overhaul of America's antiquated, underfunded and extremely broken patent process. The popular move could help spur much-needed innovation and job creation - but first, it has to get through a Senate logjam.

The Senate Judiciary Committee passed a bill in April that would patch a litany of problems with the patent system, which hasn't had a major reform in more than five decades. Two months later, the measure still has no timetable for the Senate-wide vote needed to move it through Congress.

"I don't know why this hasn't gotten floor time," Senate Judiciary Committee Chairman Patrick Leahy, D-Vt., said in a recent interview. "This has nothing to do with ideology. We need an updated patent system to create and protect jobs, and it wouldn't add a penny to the deficit."

Keep reading...