I don't know that we need to abolish copyright completely, but we need to overhaul and dump all of this crap around "other owners" and copyrights which last forever.
copyrights should last, maybe 20 years max. they should be either non transferable, so the original creator is the only one who can manage it, or it needs to be set up so you can sell the "rights" but the original creator always retains rights that trump any subsidiary rights holder. This would solve the problem in music of artists who get screwed by their labels. They can just take their creations and take it elsewhere, for example.
copyright should also never ever extend beyond the life of the creator. None of this selling to some corporate entity which holds it indefinitely long after the original beneficiary has died. This includes children of the creator. Not to discount a person's want to help their kids, but maybe their kids need to find their own way.