We all know the draft is far from perfect.  It seems that really only the NBA has it figured out when it comes to bringing new talent into the league, but then again when you have teams with only 15 on the roster and minimal "D-Leaguers" to follow how could you not get it right?  These are just some ideas that I believe would help improve the draft process.  There is no perfect system and some of my thoughts may be improbable or impossible, but this is more of a forum to discuss what can make it better, not make it perfect.

1. Teams retain rights for all players for three years.  The only exception would be for college players completing their junior and senior years, the control for them would not change.  A team would control a drafted High School Senior until the August 15th cutoff date after his Junior season.  Negotions with said player can restart after the draft of his junior season.
2. Soft Slotting - A drafted player has the option of signing for their recommended slot value.
3. Ineligible college underclassmen can sign between Dec 15 - Jan 15 and again between Draft Day and Aug 15 every year.  If a player becomes ineligible the player and the team can mutually agree to sign for his drafted slot value.  If the team declines they renounce his rights and the player is eligible for the next draft.  If the player declines the team controlls his rights until the beginning of his senior season.  This prevents high school draftees from abusing the system by intentionally flunking out to become free agents.
4. Worldwide draft - This includes Japan, defected Cubans, Korea, Brazil, Australia, etc.  This would prevent NY and Boston from bidding $51,111,111.11 for players like Dice-K and throwing $8 Million at Jose Contreras.  Japanese players would become draft eligible after eight years service time in NPJ.
5. Drafted college Seniors with a Bachelors degree receive a minimum bonus.  This amount is arbitrary at the moment, but $10,000 to $20,000 seems about right.