I went down a rabbit hole yesterday and this is what I found:
1)
A company can be an author
This would probably be the case for Marvel's deals in the 90s where they would the author
2) This is how termination rights work, in a nice chart format. Includes both 304 (pre 1978) and 203 (post 1978).
https://www.sunsteinlaw.com/media/2012_01 Copyright_Chart.pdf
3) Rights of publication is, for example, the right to
distribute copies for sale. Link also shows the earliest and latest you can serve a termination notice.
4) Termination for grants after 01/01/1978 are
35 years from publication or 40 years from execution, whatever comes first
In the case of Marvel contracts that would mean:
Fantastic Four - Date of execution (1986), Date of publication (1994). Earliest reversion would be 2026 (1986 + 40). Earliest notice would be 2016 and latest would be 2024.
XMen - Date of execution (1993), Date of publication (2000). Earliest reversion would be 2033 (1993 + 40). Earliest notice would be 2023 and latest would be 2031.
Orlando Theme Park rights - Date of execution (1994), Date of publication (1999). Earliest reversion would be 2034 (1994 + 40/1999+35). Earliest notice would be 2024 and latest would be 2032.
Spiderman - Date of execution (1999), Date of publication (2002). Earliest reversion would be 2037 (2002 + 35). Earliest notice would be 2027 and latest would be 2035.
No idea on deadpool or hulk/namor licenses as I don't know when the grants were executed.
5) Even mortgages are considered transfer of ownership and
can be terminated
6)
Notice must be given 2-10 years prior to termination date. There's a window, it's complicated, there's a window to give notice and failure to do so may result in never recapturing the rights.
7)
It is a very complicated process, especially because Marvel has reversion clauses in all their contracts, including the theme park one. Theoretically, they would be able to invoke statutory reversion, even with those in place.
8)
This is what the author can terminate under section 203:
You can only terminate rights once as well.
9) Same link as above, derivative work can not be terminated. That means all movies, and theme park rides, already made cannot be terminated.
10)
This table makes it clear that copyright by corporation can be reversed. The only difference how long the copyright is granted for (i.e. 95 years for corporation vs life of author + 70 years for individual(s))
It looks good for Marvel and Disney, but with that said, I have no idea what I'm talking about. This is all internet research and I'm not a lawyer. Furthermore, Lucas didn't get the distribution rights back for Indiana Jones and Disney had to make a deal with Paramount for Indy 5 where Para still get some participation on all future Indy movies and still distributes the previous 4. Either Lucas missed the window to get it back or he just couldn't do it. I have no idea, I will let people draw their own conclusions.