Reversion is the return of rights to their original owner, either because a contract term provided for it or because a statutory right allows a transfer to be terminated after a defined period.
The mechanism
Contractual reversion happens on conditions written into the agreement. Statutory termination is a separate right created by copyright law, exercisable within specific windows and requiring notice in a prescribed form and timeframe.
A worked example
An artist whose recordings were assigned decades ago may become able to terminate that assignment, but only by serving notice inside the statutory window.
What it is confused with
- Buying your masters back A purchase is a negotiation at whatever price the owner sets. Reversion is a right that does not require the owner's agreement.
Why it matters
The windows are strict and the notice requirements are formal, so the right is routinely lost by inaction rather than refused.
Sources: US Copyright Office
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Related: Recoupment · Black box royalties · 360 deal