What are the shortcomings of CC0 in comparison with Public Domain?
- for author of work?
- for users?
- for those who modify/extend/change license of original work?
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I don't think CC0 has any shortcomings compared to Public Domain. After all, CC0 was created with the explicit goal of fixing shortcomings of the simple method of writing "this is released to the Public Domain".
As far as I know, the main problem with the concept of "Public Domain" is that it has different implications in different jurisdictions. In particular, some jurisdictions have certain "inalienable" rights that the creator of a work cannot legally disclaim. For example, in Germany the right to be identified as the author cannot be legally disclaimed.
Therefore there was some concern that a simple "this is public domain" notice might not be fully valid in all jurisdictions. The CC0 license was created to address this:
Dedicating works to the public domain is difficult if not impossible for those wanting to contribute their works for public use before applicable copyright or database protection terms expire. Few if any jurisdictions have a process for doing so easily and reliably. Laws vary from jurisdiction to jurisdiction as to what rights are automatically granted and how and when they expire or may be voluntarily relinquished. [...]