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> IP by definition cannot be "lost" by the creator

Yes, it can. "Property" is the right to control, not the subject of the rights. IP is lost in the same way that physical property rights are lost -- I can sell physical property and retain possession of the physical object that is the subject of property rights, but still have lost the property as such.

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Calling it property is considered a misnomer by many (eg http://www.theguardian.com/technology/2008/feb/21/intellectu... ) and in fact, in certain jurisdictions, there are certain intellectual property rights that cannot be lost by the creator ( https://en.wikipedia.org/wiki/Moral_rights_%28copyright_law%... ).

> Calling it property is considered a misnomer by many

Yes, and those people don't understand property.(The problem isn't their understanding of IP -- most of what they say about the nature of IP is correct; the problem is that they don't understand real property, tangible personal property, and intangible personal property other than IP, because if they did, they would understand that the contrasts they attempt to draw are specious.)

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