When peter pan enters the public domain could Disney or any other company gain the copyright?
No, thankfully not.
Once a work is in the public domain it cannot be re-copyrighted in the US as the law stands right now.
If you create an adaptation of the work that includes new characters and elements not present in the original work, those elements can be copyrighted.
To use Peter Pan as an example, in order to assert ownership over Tinker Bell, the Disney company created a series “Disney Fairies” also known as Pixie Hollow.
All of the Pixie Hollow characters and ideas are copyrighted to the Disney company and belong to them.
Except Tinker Bell.
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