While I agree that intellectual property has been abused over and over, especially in the last two decades, we need to remember the reason why patents became a thing, and that reason was to promote open research and cooperation.
Without patents the only tool businesses had to protect and exploit their inventions and discoveries was secrecy, which creates a terrible environment for research, full of espionage and subterfuge and without a library of human inventions and research ready for anyone to take and build upon.
It’s somewhat of a necessary evil, a carrot in order to incentivize businesses and individuals to share their research and their inventions, instead of keeping them to themselves in fear of someone else stealing them. It does have issues though, especially regarding the lack of a “fair” use of the monopoly the patent grants for it’s duration.
And, again, I’m talking about patents. Copyright is a whole other can of worms, way worse in some ways.