What reasons are there for having copyright terms last this

What reasons are there for having copyright terms last this long? What consequences are there to having a long copyright term?

Solution

Copyright protection is for a few limited terms. For works formed after January 1, 1978, copyrights last for 70 years after the death of the author. For works \"made for hire\" the copyright lasts for a term of 95 years from the year of its first publication or a term of 120 years from the year of its creation, whichever expires first.