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A very worthy thread. Kudos to Ninjalawyer; a nod to his sardonic style also.
If I were king (and I really should be) I would decree that copyright lasts 50 years. Just prior to the end of that period, the owner can apply for a 50 year renewal. At this point the LoC (or some such other entity) will hold a public auction for the work. After the winning bidder escrows his funds, the original owner has the right to repurchase the rights for 1/2 the bid price (or some other fraction as my whimsical and kingly whim dictates) . If the original owner declines, the new owner takes possession.
Proceeds go to me, the king. Or to the public library system. Whatever.
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