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Protecting the legal ownership of your content, or cutting off your nose to spite your face?

Good news, everyone! If Spain's new law catches on everywhere, you will no longer be burdened with all those annoying "hyperlinks" cluttering up your online experience.Explains ShareCast:

Specifically, Madrid passed a reform to the Spanish Intellectual Property Law (LPI) that grants the Spanish News Publishers Association (AEDE) the "inalienable right" to charge a fee for anyone that adds their content.

See? Fun! Perfectly reasonable. The print newspapers need the link tax to compete with the internets they can't figure out how to use, apparently. To be fair, print needs a new model to survive; in many ways print papers are having the same financial problem print had in the 1800's, though for different reasons. Back then, newspapers suffered from there being too many papers, all biased, politically slanted, rarely not completely different from tv news. This has been tried before but financial sense aside, it's almost impossible to enforce; there are too many ways to get around it, as anyone at an online publication who does the actual work can tell you.

The linking drives traffic to the news site, where people can find the articles. If you want to attract readers, the links help. If you want to charge site A for linking to site B, you're essentially asking site A to stop telling readers they should be looking at your site instead of the one they're on now.

The logical solution is a paywall. Site A tells readers they should go to site B for the full story, then site B has full control over how much information the reader gets for free. We all hate paywalls, but used reasonably they undeniably work. The proviso is that our protected content must be worth the cost; if you are selling excellent wine you have a right to be compensated, but if you are selling the same spigot water available in the local park fountain you have no right to complain your customers choose to quench their thirst elsewhere.

The other aspect of this is excerpts. How much of the original article can you quote (with attribution, obviously) is already legally defined in most (if not all) countries.  (See excerpt, above.)