Copyright term, film labeling, and film preservation legislation : hearings before the Subcommittee on Courts and Intellectual Property of the Committee on the Judiciary, House of Representatives, One Hundred Fourth Congress, first session, on H.R. 989, H.R. 1248, and H.R. 1734 ... June 1 and July 13, 1995 (1996)

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615 4. The Negative Effect of Different Terms If our copyright term is not harmonized with the EU term, the effect will be particularly harmful for our country in two ways. First, as history has already shown, the EU nations will likely use our failure to provide commensurate protection as an argument against us when we seek better protection for our works in their countries, for example, as they did in GATT negotiations. Second, we will be deprived of 20 years of valuable protection in one of the world's largest and most lucrative markets. That will have a most harmful effect on our balance of payments, cutting off a vital source of foreign revenues. The United States film and television industry alone has an estimated $3.5 billion annual trade surplus with the EU. Valenti — GATT May Hurt Hollywood Film and TV Exports. CNN transcript #344-2, August 16, 1993. Indeed, given that we can obtain those 20 years of protection in the EU at no cost to ourselves, simply by concomitantly extending our copyright term, the effect of not doing so can only be described as suicidal. Logic and simple self-interest dictate that we extend our copyright term so as to take advantage of the opportunity which is being handed to us for extended protection in the lucrative EU market. -13