I think there are numerous purposes to IP law. First and foremost, I think the purpose of IP law is to protect and stimulate innovation. It's to grant someone a just reward for having been creative, and thereby encouraging others to be creative also. When I think of what I'm doing on a day-to-day basis and my social value, that's the social value I think I have. I help protect innovations. I think that's IP law.
On another component, it flows from the respect for property.