For copyrights, the content creator's remaining natural life plus ten years, or 40 years total, which ever is longer.
Ok, so, since corporations are people too, then if a corporation is the creator (and in the law it really means copyright owner), then as long as that corporation doesn't go out of business the copyright never expires? Doesn't seem so different from how it is now, other than a few remaining old copyrights that were owned by individuals (and now their estates).
I think the copyright term should most certainly be shortened, by a lot, but shouldn't have anything to do with the creator/copyright owner's lifetime. The benefits of copyright are how certain careers get paid. Your family should get to reap the benefits of it for the same term as if you were alive. After all, in other careers where you get paid on delivery, you get to leave all that money to your family, not just a shortened portion of it because you died (okay, estate tax might complicate that a bit, IANAAccountant). The problem is, now the copyright term is soooo long. If it were shortened to something reasonable like 10 years then allowing your family to retain the copyright for the remainder of the 10 years would seem fair. Shortening the copyright term is by far the #1 reform that would seriously improve copyright law.
With patents, which is what the article is about, there's more to it than that. Sure, we can shorten the patent term (which is a helluva lot less than copyright term), but it's not the #1 thing. The #1 problem with patents IMO is obviousness, you're not supposed to be able to patent something that's obvious, but too many patents are obvious. Hint: if a dozen people come up with the same way of doing something without copying your patent, it's FUCKING OBVIOUS. When a new technology comes out (say, putting GPS inside a phone) then it's always a race to patent every use of it anybody can think of. If it's a race to patent something, then that something is obvious. The point of a patent, and the reason it's not supposed to be obvious, isn't that you were the first one to come up with an idea, or the first one to file the patent for it, but it's supposed to be that the idea (for a method or thing) wouldn't have been thought of anytime soon by somebody else.