Occasionally I get asked for a full buyout or to own the copyright of the images of the shoot. More often than not, this is no not something the client needs unless it is part of a worldwide advertising campaign, and even then, there are separate licences that can cover that. The copyright is not what you are purchasing when you hire a photographer. You are purchasing a “licence” to use the creation of the photographer. If you give the same subject to 5 different photographers you will get 5 very different results.
The price of a buyout is usually very high, so why pay for the whole cake when you only want a slice? When you have a buyout or own the copyright you are buying the ability to print t-shirts, calendars, take out billboards and adverts on TV and use in film promotions as well as to use it all over the world.
The majority of licences will include an exclusive period so there is no need to worry about anyone else using your images.
In reality, the lifetime of an image is unlikely to be more than three years. and it is often even shorter Customers want to see new things!
When it comes to social media; this does not mean you have to remove all the images after the licence period expires. It just means that no new promotions can be produced with the images after that time.
At I Make You Hungry, day rates include a 3-year licence for Social Media, Web & PR for your selected country. If you do need more or something different, this can always be discussed.
For more information on copyright, licensing and buyouts The Association of Photographers has some great information here and their usage calculator here (although that calculator is just a guide and there are others out there).