Shankar, this is a bit sweeping and probably not the case. The development of sophisticated drugs would not happen without the protection of intellectual property at least for a time. Essentially the investment money would not be there to underwrite the development. That would leave government and the tax payer to support all these ventures. And, while this can sometimes be an alternative (when returns are too far out or just too big for private investment) it's generally proven inefficient.

Could the patent and copywright laws be modified and brought up to speed? Certainly.

Would you dismiss copyright laws for your writing? Allow some other to publish your work as theirs? And not be paid the small amount by MEDIUM? Maybe, but others may not share your altruism.

I have furniture designs that by existing law cannot be patented or copyrighted. This renders them kind of valueless. The result is fewer folk get to use and enjoy my designs. And. I would produce more if I could protect this intellectual property.

You raise a bunch of issues and all can be discussed.

Many thanks