That is the whole point. Either you agree that IP is real property and as such it should be taxed, or you don't and and you pay no taxes. If your property has

That is the whole point. Either you agree that IP is real property and as such it should be taxed, or you don't and and you pay no taxes. If your property has value, then you should pay property tax. If it has no value, you cannot claim damages if someone 'steals' said property since it wasn't worth anything. You can't have your cake and eat it. If you start taxing imaginary property, this will force IP owners to consider wether their IP has actual value or not and act accordingly.