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If code is not property, are software patents invalid?

An appeals court has ruled that code is not property and therefore cannot be stolen. Wow! The potential ramifications are huge. The RIAA could find themselves unable to sue over copied media. More directly, this appeals court may have just invalidated every software patent ever filed. I personally despise software patents. Now, I’m not a lawyer as such I suspect my presumptions are very wrong. The undeniable result is that if you copy custom created software from your employer, you have not committed theft.

The 2nd Circuit Appeals Court ruled that since computer code cannot be physically obtained, it doesn’t fit the legal description of a stolen good. … The court was quick to point out that this decision should not be interpreted for all cases of electronic theft, however the legal recognition that code isn’t physical property (which people have been saying for years) is sure to make this case a focal point in future MPAA/RIAA wranglings.

[Source, Gizmodo, Appeals Court Rules Computer Code Is Not "Property" and Can’t Be Stolen]