How should/would a #Georgist think about intellectual property (rights)?

From one perspective, it's impossible to own an idea/thoughts. Contemporary IP ownership is primarily based around (very generous & lengthy) government monopoly protections.
A fundamental argument for these protections are to encourage #Innovation. But how much do IP protections, alone, (+) innovation?
Even if IP protections help, there has to be a point of diminishing returns. At some point, IP protections discourage others from improving on the 'original work'.
Is the world, not just the US, worse or better off that minor changes in insulin formulas result in fresh IP protections, with the associated higher consumer costs?
Maybe, maybe not. But the ultimate source of that monopoly power is through government - public - intervention.
In addition to monopoly protection, we have to look at who should get credited with the idea in the first place.

As many artists and scientists would say, there's no such thing as an original idea. Almost every idea is a derivative of some idea or other ideas.
And while individual creativity and hard work are certainly factors, so are other factors. The public plays an important role in nurturing and allowing for new ideas.

(especially when the public funds those very ideas)
I propose that we look at intellectual property more akin to how #Georgists look at land, inherently public. As such, we should tax intellectual property protections (rents).
For intellectual property, I really like Posner's idea in Radical Markets for a Common Ownership Self-assessed Tax.

After a certain period of time (like 2 years), have IP owners self assess and then pay a form of property tax on the IP. If they sell, fine.
If no one purchases, the IP goes into public domain. Transaction costs are minimal. Deadweight losses inherently shrink.
Even mega intellectual properties, like Star Wars and the Avengers/Marvel, would be able to stay in corporate control.
And this regulatory regime would he fairly easy to export, IP owners would be taxed in the applicable country. No need for the US to push for IP enforcement viz a viz trade deals.
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