Bill Overview
Title: Copyright Clause Restoration Act of 2022
Description: This bill shortens the copyright protection term to 28 years starting from the date the work was originally secured, to be renewable for an additional 28-year term. (Under current law, for works created after 1977, the general rule is that the copyright term lasts for the life of the author plus 70 years.) The bill shall apply to all works fixed on or after the bill's enactment, except that it shall have retroactive effect for copyrights belonging to an entity that (1) is involved in the motion picture or arts and entertainment industries, and (2) has a market capitalization of more than $150 billion.
Sponsors: Rep. Steube, W. Gregory [R-FL-17]
Target Audience
Population: People whose financial or professional wellbeing is affected by copyright term changes
Estimated Size: 200000000
- The bill redefines copyright terms to 28 years with an additional 28-year renewal, affecting authors and copyright holders.
- This change reduces the potential duration of income and control for creators over their works, especially affecting those planning long-term legacy management.
- Entities in the motion picture or arts and entertainment industries with significant market capitalization will experience retroactive impacts on their existing copyrights, potentially affecting revenue from older works.
- The retroactive clause might change the current economic evaluations of these companies' asset values, which include their extensive intellectual property portfolios.
Reasoning
- The Copyright Clause Restoration Act of 2022 significantly alters the financial landscape for creators, especially those whose works previously benefited from long copyright terms. It primarily impacts individuals and businesses in creative industries like film and publishing.
- The policy has retroactive effects on large corporations, leading to potential changes in asset valuations and revenue depiction due to the shortened copyright terms for certain intellectual properties.
- To create a representative sample, we consider individuals from varied sectors like indie filmmakers, commercial artists, employees in large entertainment corporations, and educators. Many in these groups rely on predictable income from copyright-protected works for personal finance planning.
- Given the budget constraints, it's important to consider both short-term costs and long-term economic dynamics imposed by the policy.
- We also include perspectives from individuals who might not feel direct financial impacts but recognize indirect industry changes.
Simulated Interviews
Independent Filmmaker (Los Angeles, CA)
Age: 45 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- The policy might make it harder for me to secure long-term income from my films if large studios re-release similar concepts more cheaply due to rights expiration.
- While I rely less on massive distribution, any impact on the documentary market affects how I plan funding.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 5 | 6 |
| Year 10 | 4 | 6 |
| Year 20 | 4 | 5 |
Software Developer (San Francisco, CA)
Age: 33 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 15/20
Statement of Opinion:
- As a developer, I don't see immediate changes, but I worry that products using older code libraries might have to adapt more quickly to IP status changes.
- Might increase company pressure to innovate faster, which could be good or bad for career growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 7 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 7 | 7 |
Publisher (New York, NY)
Age: 60 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 8/20
Statement of Opinion:
- This policy could significantly impact the revenue patterns from older book collections.
- Expecting to push more resources towards newer publications or attempts at alternative distribution models.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 4 | 5 |
| Year 5 | 4 | 5 |
| Year 10 | 3 | 5 |
| Year 20 | 3 | 4 |
Graphic Designer (Austin, TX)
Age: 28 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 14/20
Statement of Opinion:
- May open up more opportunities for design briefings as older works become public accessible assets.
- Expecting more competition for work but also more client projects due to market shifts.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 7 | 8 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 6 | 6 |
Educator (Seattle, WA)
Age: 42 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 10/20
Statement of Opinion:
- The policy will enrich my coursework on copyright laws with practical contemporary examples.
- Should have minimal direct financial impact but enhances the educational experience and content depth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Corporate Lawyer (Chicago, IL)
Age: 51 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- Clients might face increased legal considerations for older software entering the public domain sooner.
- Greater need for legal counsel as clients navigate these new rules, potentially increasing workload.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 5 | 6 |
| Year 20 | 5 | 5 |
Independent Musician (Albuquerque, NM)
Age: 56 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 13/20
Statement of Opinion:
- Concerned about competition from expired copyrights on older jazz standards.
- Potentially increases the need to focus on touring or digital content streams as other bands cover older, now-out-of-protection music.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 5 | 6 |
| Year 5 | 5 | 6 |
| Year 10 | 4 | 5 |
| Year 20 | 3 | 5 |
Video Game Designer (Atlanta, GA)
Age: 39 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 5.0 years
Commonness: 6/20
Statement of Opinion:
- Minimal immediate effect but considering the potential impact on game sequels and character redesigns once original copyrights expire sooner.
- Could lead to new design opportunities in remakes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 8 | 9 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Student (Denver, CO)
Age: 23 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 9/20
Statement of Opinion:
- This policy might influence my future publishing strategy if older works and stylistic niches cycle faster due to shorter protection periods.
- Expect agencies and publishers to be proactive with new content deals.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 6 | 7 |
| Year 5 | 6 | 7 |
| Year 10 | 6 | 7 |
| Year 20 | 6 | 6 |
CEO of Entertainment Company (Miami, FL)
Age: 48 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 3/20
Statement of Opinion:
- The retroactive policy changes projected revenue from some older films and art pieces, necessitating strategic shifts.
- May need to acquire new IPs or focus on digital platforms more.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 5 | 7 |
| Year 3 | 5 | 6 |
| Year 5 | 5 | 6 |
| Year 10 | 4 | 6 |
| Year 20 | 3 | 5 |
Cost Estimates
Year 1: $20000000 (Low: $10000000, High: $30000000)
Year 2: $15000000 (Low: $10000000, High: $25000000)
Year 3: $15000000 (Low: $10000000, High: $20000000)
Year 5: $10000000 (Low: $8000000, High: $18000000)
Year 10: $5000000 (Low: $4000000, High: $6000000)
Year 100: $5000000 (Low: $4000000, High: $6000000)
Key Considerations
- The transition from current copyright terms to the shorter proposed terms would require extensive updates and collaboration with existing copyright management systems and policies.
- Retroactive impact on significant market cap entities could necessitate specific legal resolutions and negotiations.
- Potential for increased public access to works reaching the public domain earlier could promote cultural and scholarly advancements.