Perhaps markets do have wisdom
Powerful financial entities appear to be grasping the fact that rather than promoting innovation 'intellectual property' (IP) stifles it. Realisation has been long in coming but should have immense consequences.
Despite powerful rearguard action there must come a point when the penny drops that ideas cannot be owned and neither can their expression in digital format. This applying across the entire range of culture from 'pop' songs to academic literature. The Internet is daily making this obvious. Modern times Luddites are people and organisations stuck in pre-digital ways of thinking. They continue to assert IP 'rights' and rely upon destructive rentier economics supported by monopolies in a pseudo-market that assumes IP tradable in the same manner as physical goods. The assumption is false because ideas and digital sequences cannot be forced into the mould of scarcity, supply and demand, and price discovery.
Law attempting to prop-up erstaz markets is inherently bad law. Bad because ultimately it is not enforceable when people rebel. An irony is that Luddites were engaged in cottage industries. These were replaced by more efficient mass production. The modern variety are corporate entities and conglomerates anxious to preserve control over culture and able to sustain gross inefficiency via ability to price gouge in context of monopoly. I perceive an unstoppable imperative to localise production of physical and digital artefacts, the former according to local need/demand. Hence return to the cottage.
Making this inevitable are technologies like 3D-printing. These fit well into localised economies, in some cases down to the individual household. To use these technologies one need be in possession of requisite raw materials and a recipe for assembly. The latter is digital and easily shared and distributed regardless of modern law supporting neo-Luddites. This technology is extending into manufacture of pharmaceuticals, possibly soon tailored to needs of individual patients.
Localisation carries forth to production of entirely digital products such as film and recorded music. Hollywood and the recorded music industries are under threat from more versatile and less risk averse independents.
The dying rentier business model primarily supports a plethora of intermediaries and distributors. It is lazy and based upon 'entitlement'.
The new way of doing things recognises that ideas and their expression in digital format are not commodities. What can be sold on an open market is skill in their creation. Possession of reputation replaces copyright and patents. People and cottage industries thus endowed may on basis of current achievements seek voluntary patronage for continuation. That just as Leonardo da Vinci did. He relied on wealthy patrons and the church. Modern innovators have, via the Internet, access to the entire globe. They can solicit donations from admirers and finance big projects via crowd funding.
Essential for reputation is attribution. That is the only area where law is applicable. The sin of plagiarism and attempts to gain financial advantage by misrepresenting oneself as another of reputation requires civil, and sometimes criminal, legal remedy.