Can someone explain how false harmonics work on the bass? I've seen it done but can someone expand? Did Jaco "invent" them?

I doubt that Jaco invented them, but he was probably the first high-profile player to use them so effectively. I use them infrequently and I don't know if my technique is correct, but it's the same as illustrated in the second picture on this site: http://www.rustyspringfield.net/flshrmncs.html

Basically, you fret a note and hold your thumb lightly on the string being fretted where you noirmally pluck, then pluck it with your finger. Slide your thumb up and down the string till you find the spot. There are several places on the string that will produce different harmonics.

Check out this video of Jaco playing "Birdland" and you'll see what I'm talking about. He gets the first harnonic, then slides his right hand back toward the bridge to a get a higher one.

http://www.youtube.com/watch?v=nQDfMqLlFPU

I use a variation of them on the guitar. If I fret say a C chord in open position, I use my finger twelve frets above each fretted in open position and lightly touch over the fret and use my thumb to pick. I only use it for harmonics I cant get with no fingering.

That's exactly the point. Of course, Jaco also had really large hands, so he could stretch his left hand for false harmonics as well. Just watch him play "Portrait of Tracy" sometime.

Awesome suggestions guys. Those are some killer videos. I have never thought to plug something into youtube, I had only heard recordings. Its fun to watch him play. I know I'm not a Bass player, but I think I still prefer Victor Wooten though...