admittedly according to gizmodo, the person who found the phone attempted to return it, he was slightly inebriated that night and it was late so he figure he contact Mr powell in the morning, unfortunately as morning came round apple had wiped the phone (at this point in time it was just presumed to be an old iPhone) and not being the most resourceful person he didn't know who Mr Powell might be, upon removal of the case he realized it was not a standard iPhone and pawned it off.... enter gizmodo
question is can this be classified as stolen property, given the phone was remotely wiped and could no longer function... no one goes and steals a TV that dont work....
as for IP theft, well it's like those guys who had their laptop stolen that had SSN on them, they really didn't take enough precaution to secure the sensitive data, similarly Apple did not take secure enough pre-caution to secure the IP, if this really was IP theft gizmodo could have simply given the phone to HTC and not publish a single pix...
had someone found a MS device lying on the ground, not being sure what it was posted pix of the thing online, only to find out it was a top secret MS device who asked for it back, which he happily complied, only then to find the police kicking down his door and carting away his home computer... i think everyone would agree that MS was being a jerk, especially seeing as they saw fit just to leave the damn thing lying on the ground like that
this can only get better if upon dissecting his computers they destroy personal information of sentimental value (like family pictures)