Property ownership is ultimately based on scarcity. If I using a thing prevents others from using that thing, there is scarcity, and there should be laws protecting it.
There is no scarcity with intellectual property. My ability to have or act on an idea is in no way affected by someone else having the same idea. The entire concept of ownership of an idea is dystopian and moronic.
I also strongly disagree with the notion that it inspires creativity. Can you imagine where we would be if IP laws existed when we first discovered agriculture, or writing, or art? IP law doesn’t stimulate creation, it stifles it.