Even the phrase "intellectual property" is highly tendentious. It implies property right where there are none. What you get from the patent office is a temporary government granted monopoly.
Often, as with, for example, spectrum, the people holding the license tend to view the object, and not the government granted license, as their perpetual property.
Depends upon how you look at it. I find the idea of property rights a bit funny because every physical thing you can own exists because in the past someone murdered the fuck out of people to own what it's made from.
In that regard, intellectual property is the only property not built on human suffering.
I wouldn't go that far. IP is a carrot for development. Imagine if you spend a decade and $100K developing an idea, and just when it started taking off, Oracle or somebody copied it and took the entire market. That can and does still happen, but at least you have legal recourse with IP laws.
It was originally a way to foster innovation for a maximum of 28 years, then the works would enter the public domain to be improved upon. Over the years, the copyright duration has become ridiculously long, negating the social benefits of it's existence.
The fundamental concept is sound, it's when it's perverted to help the wolves rather than the sheep that it stinks.