Strijkbout: Again I dissagree, the copyright laws themselves aren't the issue, the real issue when copyrightlaws get abused is because the people who sign bad deals and agreements, you can't blame the copyright laws for that.
But I guess you like living in the wild west.
Fenixp: The current state of copyright laws is far more akin to the wild west than their complete absence.
First of all, courts work via precedents, even when it comes to the copyright laws. The crap with copyrighting words we see around us oh so often? That's the result of the 'strong' securing their grounds for the future, while the 'weaker' can't really do a damn thing about that without wasting a lot of their precious time and money in court. Now I'm not blaming the 'strong' for doing so - they have to. Because of copyright laws.
Secondly, when a powerful company's rights are infringed, it's very easy for it to defend - they have their own departments of lawyers, working at this kind of stuff non-stop. And then there are the small ones, individual creators, who - as awalterj pointed out already - can, at best, write a polite ceise and desist order and hope for the best. Sure, they could take their case to the court, however that's very time-consuming - and a creative person can't afford to lose that time, nor to lose the money they would if they'd happen to lose.
Thirdly, your own example of 'signing bad deals and agreements' - that's exactly the kind of stuff copyright laws should protect you against, not support it in abundance! How this works most of the time is that, when you're no longer profitable enough, a big house approaches you, basically saying "Look, you give us all your past IPs and we employ you, saving your from losing your jobs". There are very few genuinely successful small companies which would give up their freedom - and what I have just described is blackmail, plain and simple. Of course you'll sign that bad deal, at the end of the day, food on the plate is more important than what you have created.
That's wild west. There's very minimal protection for the little guy, and when a law is so open to abuse as you yourself admit, there's something very wrong with it.
When a law more commonly achieves the precise opposite of what it's supposed to represent, it's just no a very good law to begin with. Of course, there's a good chance these laws are not at all written to protect the little guy, and are open to abuse on purpose - but that's another discussion entirely
Like I said there is room for improvement but in your example it seems more like lawyers and judges who should have chosen a different profession.