The transition from industrial capitalism to cognitive capitalism and the rise of the digital revolution have brought the subject of intellectual property rights to the forefront as a controversial issue. This paper holds that the theoretical apparatus and concepts belonging to the industrial phase of capitalism largely fall short with respect to the repercussions that intellectual property rights regime yields. Embracing the methodological precept that social theory must be moulded in order to address the contours of contemporary social reality, this paper engages in an autonomist Marxist update on the concept of intellectual property rights. It ultimately challenges the “intellectual property rights are a socio-economic need” thesis and speculatively argues that the current system of intellectual property rights, directed politically towards the enclosure of commons, constitutes a structural contradiction by i) forming a basis for a social crisis in terms of the established relations of production, and ii) curtailing a part of the socio-economic opportunities for innovation, profit-making, and growth.