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I still like the idea of a renewable copyright. It keeps the corporations like Disney from constantly lobbying for longer copyrights (and isn't ironic based on how much of Disney's stuff is based on public domain works?) - and it allows those who really are profiting from the copyright to continue to do so.
I know there are problems with this style as well - those diligent King heirs would still be protecting their rights to the Dream speech - but it allows all those orphaned or "forgotten" works to drop out of copyright sooner.
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