Argue how intellectual property rights could be detrimental to businesses and their customers

Intellectual property rights is very important to prevent any company from stealing and copying your product.

For example, let's say that you invented a new nanotechnology that could cure a lot of illness and started to see good sales coming to your pocket.

Without intellectual property right, a bigger company with a lot more equity could simply make the exact same product and beat you in the competition because they can make the product cheaper.