How wealth taxes work in practice
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I'd want a tax-free then a taxed period of IP, to still encourage development of that IP by smaller players. Just allowing everything to be 'eminent domained' by the blackrocks of the world OR you have to set your own tax-rate higher than realistic to your wildest dream evaluation seems like a poor system for innovation.
At a reasonable enough tax rate that wouldn't necessarily be an issue. If the idea is really promising then investors would happily front the tax. Or if a modder could get 10k from a game publisher for a project he was working on in his spare time that seems like a win.