If DRM were actually DRM (Digital Rights Management), it would simply be a way to protect intellectual property. But it is not, and has never been in the past either.
Every implementation of DRM actually is a DIC (Digital Information Control): it is Apple forbidding you to copy your mp3s from your iPod to your new computer, it is Amazon deleting your books from your Kindle, it is anyone else blocking you from accessing your paid-for digital content from the new PC you bought to substitute the old one that zapped last month.
DRM as a principle? Has its reasons to exist, and under Common Law (and also under Civil Law, even if with less rights or less enforced rights) it is acceptable and "right".
DRM as technology, instead, is a failure, because under the misguiding name of "DRM" what we've been given is just DIC.
By the way, I'm european
EDIT: Before being misunderstood, I have to make clear one thing: by "Common Law" I mean the legislation derived from Great Britain's own legislation, including Great Britain itself, USA, and all countries that once were part of the Commonwealth; by "Civil Law" I mean the most widespread legislation in Europe, which derives from the ancient Roman Law.