"Some once-productive companies feel that past investments in vast portfolios entitle them to thwart future innovators," CCIA President and CEO Ed Black wrote in a letter to senators. "The patent system as we knew it has been turned on its head, as has the push for reform that the IT sector first launched five years ago. When patents become too easy to get, trivial patents become an opportune vehicle for speculation and litigation against those who produce, distribute, or use complex products and services. This benefits lawyers rather than innovators."

Conyers said the new bill isn't intended to replace the Senate patent reform bill. "Ranking Member Smith and I remain optimistic and hopeful about the prospects for passage in this Congress of comprehensive patent reform," he said in a statement. "We expect to continue to work with our Senate colleagues on the larger bill."

There are more than 750,000 patents that haven't been examined at USPTO, the two lawmakers said. Under President Barack Obama's 2011 budget, more than US$200 million in patent fees would be sent to the government's general budget. USPTO is "in the midst of a crisis," Smith and Conyers said in their press release.

Every year, U.S. inventors file 500,000 new patent applications, Smith noted.

"New products and innovations drive the American economy and help create jobs," he said in a statement. "The quick and thorough processing of patent applications is critical to getting new products onto the market and into the hands of consumers. While Congress still needs to take up comprehensive patent reform, this bill is a good first step to updating our patent system, expediting review and improving patent quality."