Aiwendil is correct in saying that you are misstating my point.
WCH said
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Your other question about 'diminishing value' is just a roundabout waty of making a similar but even more audacious claim: that when UA bought the LR fim rights they somehow acquired an ownership interest in everything JRRT might publish in the future.
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Not at all. You are broadening the issue to the point where it reduces the arguement to absurdity or straw man status. Of course they would not have the rightsto everything JRRT would publish in the future. There is a key question here that is being ignored for one reason or another. What about JRRT and his heirs publishing expanded material which is already owned in film rights form by others? And I refer to the material both in the Appendicies as well as mentions of First or Second Age events in both LOTR and HOBBIT?
That is NOT
"everything JRRT might publish in the future" as claimed. It is material already discussed by JRRT and sold as film rights.
Put yourself in the position of the holder of those film rights. You bought the rights, have yet to use them fully, and then see the heirs of the author rewrite the stuff you already own, albeit in far more detailed fashion and much fuller treatment. What would you as rights holder say about this?
Again, I am no attorney but I do think this is not as clear cut as some of you think. I also think such a claim could go a long way in the court system and the outcome would not be a sure thing for the Estate.