You are 100% correct. The fact that it's called intellectual property is a misnomer, it's a temporary government granted monopoly. One common confusion is tha

You are 100% correct. The fact that it's called intellectual property is a misnomer, it's a temporary government granted monopoly. One common confusion is that Trademarks are often called intellectual property where they are more realistically anti-fraud devices. Though I believe that a trademark can only then be enforced by the defrauded party (the person buying the knockoff good) the person being knocked off has no recourse, unless they purchase the knockoff.