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> Copyright is a property right

Huh? The term "Intellectual Property" is a metaphor, not literal. There is zero intrinsic moral imperative against copying; copyright is a policy decision to encourage creation under a capitalist system. Other systems for encouraging creation have existed in the past (and exist concurrently with copyright).

If copyright were a property right, then "fair use" would be legalized theft.

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Basically, copyright is not too different from other paper assets like publicly traded stocks. There is little intrinsic moral imperative for profit-seeking entities to make filings based on government mandated accounting principles and to not engage in insider trading schemes. Other systems, such as partnerships and private ownership, exist concurrently.

Copyrights are transferable intangible assets created by the legal instruments of the capitalist system. If you were to buy the copyright to the Metallica catalog, you can license that catalog for a return on your investment. It would be an asset of your estate like any other paper investment.

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