Common law copyright
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Common law copyright is the legal doctrine which contends that copyright is a natural right and creators are therefore entitled to the same protections anyone would be in regard to tangible and real property. The doctrine was repudiated by the courts in the United Kingdom (Donaldson v. Beckett, 1784) and the United States (Wheaton v. Peters, 1834). In both countries, the courts found that copyright is a limited right created by the legislature under statutes and subject to the conditions and terms the legislature sees fit to impose. The proponents of this doctrine contended that creators had a perpetual right to control the publication of their work.
While the legislature in the UK could grant such a perpetual right — Parliament has done so in regard to Peter Pan — it is under no obligation to do so and can set a limited term. Conversely, while the U.S. legislature is constitutionally bound to set limited terms, the Supreme Court has ruled that limits on copyrights already granted can be extended.