Intellectual property, at it's simplest, is a government mandated monopoly granted to allow for progress in the sciences and "useful arts" (think trades really, not arts and crafts). All monopolies are bad, but it was only to be granted for a limited time so it was fine.

Corrupt politicians ruined the entire trade off though, and now it seems that copyrights and patents last for 100 years plus the life of the universe. During which time no one can really compete fairly.

If we want rapid progress in science, we want short patents. Instead we opted for long patents and a higher stock price. R&D budgets have been shrinking ever since.

Which places has this been successful?