Marrose sends this in: “If there is a punchline, I don’t get it.”
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IP, of course, means Intellectual Property. (It can also mean Internet Protocol, but that’s not the meaning intended here.)
I am sure the IP being encroached upon here is Captain Underpants, a popular series of children’s books. This young man is proposing a rip-off of the IP belonging to the author and publisher of the CU books.
Comics I Don't Understand 
IP, of course, means Intellectual Property. (It can also mean Internet Protocol, but that’s not the meaning intended here.)
I am sure the IP being encroached upon here is Captain Underpants, a popular series of children’s books. This young man is proposing a rip-off of the IP belonging to the author and publisher of the CU books.
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