Interesting take, but as with much of Ayn Rand's work, fundamentally flawed. An idea can be had independently. The idea if a computer was independently conceived upon in the UK and in Germany at around the same time. Intellectual Property laws weren't needed to "protect" the idea.

All that I really being said is that the person who comes up with an idea should be properly compensated. You don't need IP laws to do that. Many businesses agree - they file patents for inventions for their employees, and pay them a wage (and possibly a bonus).