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PaulG comments on The Tragedy of the Anticommons - Less Wrong
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The concept of eminent domain exists specifically to deal with this problem, and it is at least a few hundred years old. Eminent domain is used to force land owners to give up or allow the usage of land when necessary to allow for the construction of projects like roads and sewers, and it has also been applied in limited cases to patents. However, expanding the use of eminent domain is likely to be politically untenable, because for every time it's used there must be an unwilling counterparty who will make noise.
One problem with eminent domain is that it doesn't insure optimum use because the only feedback mechanism is through democratic processes, so it's just a public choice problem then. With eminent domain you will probably destroy underuse and just replace it with overuse.