Imaginary Property has a number of drawbacks [0]. Among them, the fact that it trumps real property - IP will prevent you from using your own real property as you see fit. (For example, playing music in your garage without a broadcasting license [1].)

[0] https://mises.org/library/against-intellectual-property-0

[1] https://www.telegraph.co.uk/news/newstopics/howaboutthat/424...