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Thanks for your thoughtful comments.

The logic of your first comment suggests to me we would need to expand the registers or registrable IP to enable registration of licences and other contracts. Just as the Land Registry allows registration of negative covenants. What is registrable and binding on future owners might be a sub-set of all the contract terms.

I agree that some contractual obligations are unenforceable. I don't think this affects my central argument.

I have no issue of principle with compulsory licensing regimes. There are both present and past examples under English IP laws. Eg see this extract from the Patent Office work manual: https://www.gov.uk/guidance/manual-of-patent-practice-mopp/section-48-compulsory-licences-general