Thoughts on intellectual property?

On the one hand, it is logical in a sense that a person should have a right to define the terms of use for his product.

On the other, it is hard to classify IP violation as theft since it wouldn’t mean taking away anything physically. It is copying.

Also don’t froget that the whole history of humanity is built on copying, and under copyright laws someone who invented a wheel could just prohibit everyone else from using it.

And also also the period during which copyright takes place is super strange. For medicines it’s like 7 years, while for disney movies it’s more than eternity.

So what would you do?