Which industry? I think there are impedance issues with patents in the faddish Web 2.0 world, but they work fine in many other industries. E.g. In jet engines, where the life cycle of a design might be 30 years, "first to market" is almost irrelevant.
Same here. I'd rather see copyright in the 15-20 year range with an optional extension that must be registered and paid for. Especially, copyrights held by corporations and not individuals.
Why do copyrights need to last hundreds of years?