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Fixed length, plus limited renewal. For the vast majority of books, the original 28 year copyright is more than adequate. Few books make any money after the initial release.
I'm open to a scheme where the author has the original copyright and then can renew the copyright as long as the book remains in print. Easy enough to do with ebooks. Renewal fee being a percentage of the sales from the previous 5 years assuming that you are renewing every 5 years. Of course, I also think that no book should be eligible for copyright unless an electronic version of it, in one of a specific format, resides in the Library of Congress, with the renewal fee's being dedicated to the maintenance of said library along with a mechanism for the general public to get electronic copies of any book that is in public domain.
Not going to happen, of course.
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