> Constitutionally, only the federal government is allowed to regulate intellectual property

It turns out that's not exactly the case! See, e.g., Goldstein v. California, 412 U.S. 546 (1973). Before 1978, state (often common law) copyright used to cover a lot of pre-publication works, and until 2018 (when the federal law was amended) state copyright law covered pre-1972 sound recordings, and state copyright still covers obscure things like post-mortem moral rights in visual art or rights to "unfixed" works. See 1 Nimmer on Copyright §§ A.02 & 2.02. Other forms of intellectual property (trade secrets, rights of publicity) remain mostly creatures of state law, and some states also have trademark systems.