I believe we can safely take this as a piece of devil's advocacy -- Warner Bros. would not really come out ahead on this -- but it's well though-out and makes some excellent points. For instance, it points the self-evident absurdity of extending copyrights to encourage creativity when the old laws had recently produced an unprecedented wave of valuable commercial properties. It also points out that being in the public domain has not appreciably hurt and has arguably helped characters like Tarzan and Sherlock Holmes.
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