Under the copyright law of a WTO Member, the term of protection of a literary work owned by a company…

Article 12 provides that where the term of a work is calculated on a basis other than the life of a natural person, it shall be no less than fifty years counted "from the end of the calendar year of authorized publication", or fifty years from the making of the work if there is no authorized publication within fifty years. The 25-year minimum belongs to photographic works and works of applied art, which Article 12 expressly leaves out. A company has no life to measure, so a term tied to a director's life has no basis.