A major change in U.S. copyright law that was put in place in 1976 is about to take effect- and the results could spell disaster for a record industry already reeling from tremendous drops in revenue. As of 2013 artists who recorded songs released in the year 1978 can apply to have the rights to those songs revert to them. Each successive calender year will advance the year in which artists can apply for the songs from another year. Thus in 2014, artists can demand to be given the copyrights on songs released in 1979. The stipulation is that the artists must apply two years in advance. Thus power players such as Bruce Springsteen and Billy Joel have already done so. If they prevail, it could mean many millions of dollars more in profits to the artists. However, the record companies intend to fight the law- even though it seems clear cut in favor of the artists. Click here for more