Copyright Law Out of The Mouths of Cartoon Characters

Learn something and be entertained at the same time? It can hardly be better!!

We actually watched this video in my college ethics class. It's a different twist on the typical ethics course because it's designed to address the ethical issues that computer geeks will face in their jobs. What makes this discussion particularly tricky is that these laws are fairly young, and they're being made by lawyers with little expertise in the computer age.
So consider for your own sake, do you think these laws are fair? Should fair use be more broadly or strictly defined? Or should we scrap the whole idea of copyright laws and everything everyone makes is immediately free and available to all? Would you put any time and effort into a long-term project if it would offer you zero value in return other than name recognition? Sound out in a comment if you feel like it.