Over enforcing intellectual property law will harm and stunt innovation. If it is over-enforced it will discourage innovation because people are less likely to innovate.This will happen because more people will have their new inventions considered as "theft".They will lose money and often face lawsuits.The desire to innovate will be lost as no-one can make money from it.
Intellectual property rights were created not for individual good but for everyone's good, to spur innovation.
Unfortunately they didn't think it through or they would've realized that limited intellectual property rights instead of absolute ones would help to spur innovation a great deal more.
Intellectual property rights stunt innovation when people apply for patents and copyrights and then they sit on them, not using them, and being unwilling to sell or lease the rights regardless of what the purchaser proposes.
We should replace the current system with a system where the copyright or patent holder is required to either develop their idea themselves or lease to another to do so (who they may collect reasonable rent from). There should be courts which can examine these questions and then require copyright or patent holders to get to work developing or to lease the rights to do so, or a few months after the ruling if they haven't even started it should go into the public domain. Even if they are developing it if someone has an idea that would push innovation forward which isn't the way in which they are developing it courts should be able to require the development or leasing of the product for that particular purpose and then in the event that this isn't fulfilled put it in the public domain whenever it falls under that particular purpose.
Yes, enforcing intellectual property law can stunt innovation, because people can be stopped from inventing new things. Copyright and intellectual property laws can also be abused, too. Someone can claim a property right they don't have. This can stop other people from inventing and sharing in ways that hurt all of society.
Over enforcing intellectual property law clearly stunts innovation. But that must be balanced with the property owners rights and that intellectual property. People by and large have no clue of the time, effort and money required to create intellectual property and be given patents for it. Innovation has been going on just fine even with these laws.
Now days with the Internet being so widely used, intellectual property right need excessive protection. For years people have been pirating movies, music, etc. Anything that goes up on the web can be stolen. I seriously doubt this will affect innovation if laws are properly enforced. It would actually encourage innovation if people thought their property were protected.