Why is intellectual property important? — Part 2

Justification No. 2: 

Intellectual Property = Big Business

Let’s look at the iPhone. It’s covered by 100’s or 1000’s of patents. There’s currently a worldwide patent fight between Apple and Samsung over phones and tablets. The loser gets products taken off the billion-dollar smartphone market.

Proponents say intellectual property helps companies bring cool new products to market.

Others think that being first to make a new product, or making the best product, results in the best company rising to the top.

Which argument do you think is better?