According to http://en.wikipedia.org/wiki/Intellectual_property, types of intellectual property other than patents include copyright, trademarks, industrial design rights, and trade secrets. You could get rid of patents while keeping those other types of intellectual property.
And what's the efficacy of copyright, trademark, design rights, and trade secrets in protecting a new process, machine, manufacture, or composition of matter? The first three are not applicable, and the fourth may protect innovation but comes at the expense of no public disclosure.
None. And that's the point. The idea here is to stop granting monopoly on on these areas.
But that won't affect, for example, authors, musicians or marketers. It won't allow anyone to start screening movies without paying royalties, or a new social network called "Facefolio" or proprietary products based on GPL'd code.
