For eligible works (original work of authorship fixed in a tangible medium of expression) initially created on or after January 1, 1978, the period of copyright protection is: (1) the life of the author plus 70 years for individually authored works; (2) the life of the last surviving author plus 70 years for jointly authored works; and (3) 95 years from the date of publication or 120 years from the date of creation, whichever is less, for works made for hire (where the creator was employed or commissioned to create the work) and anonymous and pseudonymous works.