Earlier quoted context omitted.
#2 is so frustrating. I have heard multiple reports of parties who were interested in remaking a game, only to discover that due to multiple mergers/acquisition/re-licensing deals over time, nobody is sure who retains the rights. Rather than engage in the legal quagmire, the remake does not happen.
I’d expect that if the maker undertook a thorough and well-documented search for the rights holder; then just made it anyway, they’d legally be covered 1) It might be hard for the rights holder to assert their copyright at a later stage, if they lack the evidence to do so at the outset 2) any damages awarded might be mitigated by the attempts to search for the rights holder, especially if the ‘true’ owner was contact…
In a sane, rational world that would probably be the case. Too bad we don't live on one!