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Look at ARM. They license design rights and they're pretty successful.

I agree. I don't know how you could have IP without patents.

None. And that's the point. The idea here is to stop granting monopoly on on these areas.

But that won't affect, for example, authors, musicians or marketers. It won't allow anyone to start screening movies without paying royalties, or a new social network called "Facefolio" or proprietary products based on GPL'd code.