1) Rights can't be held by corporations, only individuals. So the rights to a piece of art or IP would always trace down to a list of names.
2) Everything enters the public domain after 20 years or the death of the entire list of ownership.
Since I'm just pitching wild ideas on the Internet of course I have the freedom to make any suggestion I want, but I would like to live in a world where (a) no companies or rights owners are able to play bullshit games with gating access to art that can be reproduced at trivial cost and (b) we can consume all the art we want that's past its sell-by date. It's insane to me that we don't have free, legal databases of every work of art created before, say, 2006.
Isn't the current system setup around the idea that the company gets the rights, and in return the workers get a basically risk-free salary? Wouldn’t your proposal undo that, so then workers took on the risk of whether they got paid, based on whether the game ends up being profitable?