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Copyright is an intellectual property right, similar to tangible property rights, allowing for the transfer of ownership. In this lecture, we will explore two key concepts: licensing and assignment of copyright. An assignment involves the copyright owner fully transferring their rights to another party, effectively selling those rights. It is important to note that the new owner may not always be the original author, as rights can be obtained through assignment. In contrast, a license does not transfer ownership; instead, it allows another party to use the copyright while the original owner retains ownership. Understanding these distinctions is crucial for navigating copyright law effectively.