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I don't think there is any chance of copyright terms being reduced, but it is still possible to keep copyright from being extended indefinitely. Advocates of eternal copyright like to point to Mark Twain's objection to copyright periods, but when he was writing, copyright had a maximum term of 42 years from publication, now it is life+70. If we had eternal copyright, he couldn't have written A Connecticut Yankee in King Arthur's Court.
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