I’d take it a step further and say we need a good default license that kicks in after a certain amount of time has passed until the end of the copyright (at which point no license at all is required).

The price of the license will just be based on a formula that takes revenue and portion of the end product that uses the copyright material into account. So someone issuing their own print of a book that came out would pay more than someone who publishes a fan fic sequel and just uses the characters.

And trademarks still strictly enforced, since copying that is trying to pass yourself off as another producer, or fraud. Trademarks are how the original author and the good derivative works will be differentiated from the shitty ones.