> 1) the rise of algorithms (which can't be patented) in replacing physical IP

You’re assuming there’s an inherent limit to ownership. The rise of software patents themselves are an expansion of the concept of ownership.

If there’s gold in them there hills, why would they go unmined? See “Are Business Method Patents Going to be Second Class Citizens?” for the “everything is ownable and licensable” side of the argument.

https://www.goodwinlaw.com/~/media/Files/Publications/Attorn...