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Chris Lightfoot

I think you've misparsed this. "Modernise" is almost certainly code for "introduce yet more dodgy protections for DRM, term extensions, unlimited patentability, etc. to keep on good terms with our buddies in the content industry", rather than anything sensible like looking at what'd be economically efficient. You needn't worry -- it'll doubtless be very profitable for IP lawyers. Incredibly counterproductive for everybody else, of course, but since nobody seems to care that the current régime is idiotic I don't expect that anything will be done about it in our lifetimes.

Anybody who can in seriousness come out with,

"Piracy is a growing threat and we will work with industry to protect against it."

shows pretty strong signs of Just Not Understanding.

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