Can IP/Patents be assets in hedge funds up for suing grabs?

I was talking to someone today who spoke about funds buying intellectual property as assets to be used to sue other companies. I think the story in Forbes is in similar lines. I am not a lawyer and I do not know about rather compex topic called patent laws. All I have done is read some of Larry Lessig's books and watched his lectures. And being an engnieer at heart, I just think what's happening is a blatant abuse of the patent process whose goal to me - is to motivate creative people engaged in the innovation process. I don't understand if someone is not creating anything, how can he/she claim the patent as a right and treat it as a commodity. If suppose NASA owns a patent, isn't it different from me owning the same patent. Say NASA likes me and gives me the patent as a gift. Then, is it an asset to me? Can I build a space shuttle in my apartment? But if Airbus got it, maybe it can be patent infrigement because in that case Airbus will have a competitive advantage. It looks like some people are just waiting on the sidelines doing nothing and waiting for making money by suing. I know many people will think I am wrong. Maybe they will say I know I don't know much about what I am talking about. But something ain't right here. I might as well hold this position that goes up in flames rather than keep quiet on such a bizarre process. If not for anything else, I'll learn something.