IP is the life blood of a company. More than ever companies are built around patented technology.
Courts read the riot act to infringers.
Billion dollar damages have been awarded. Treble damages, once rare, are now the order of the day. Hence, IP rights are most valuable corporate assets, crown jewels. It also requires the protection provided by patents. Without this protection our competitors would soon duplicate our inventions, and the features that differentiate Caterpillar machines worldwide would no longer be unique.