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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341 26 Statutory successors and the original grantee.^* This provision, erroneously described sometimes as a "right of first refusal," does not give the original grantee a right to conclude such an agreement; it only means that if such an agreement is made, it will be enforceable.^^ Termination Under Section 203 Section 203 's provisions are similar but not identical to Section 304(c), but are equally complex: (1) Grants covered (a) exclusive or nonexclusive transfers or licenses (b) executed on or after January 1, 1978 (c) by an author (d) as to any work (i) created before or after January 1, 1978; (ii) subject to common law copyright ($303); (iii)in first-term copyright (§304 (a)); (iv) in renewal term (§304 (b)) (2) Persons who may exercise right (a) the author or a majority of the authors who exercised it (§203 (a) (1) ) ; (b) if the author is dead, his or her right may be exercised by (or if the author was a joint author, the author's interest may be "voted" by) majority action of the owners of more than one half of author's termination interest, such interest being owned as follows: (i) by surviving spouse (if no children or grandchildren) (ii) by children and surviving children of deceased child (if no surviving spouse) per stirpes and by majority action or (iii) shared, one half by widow and one half by children and deceased child's children. (3) Effective date of termination (§203(aJ(3)) (a) designated time during 36th through 40th year after grant or (b) if grant covers right of publication, designated time during five year period beginning on the earlier of the following dates : (i) 35 years after publication (ii) 40 years after grant. ^^ 17 use §304(C) (6) (D) (1978) . ®^ Bourne v. MPL Communications, 675 F. Supp. 859 (SONY 1987), 678 F. Supp. 70 (SONY 1987).