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Sky Morton discusses copyright transfers under U.S. law, explained through the "baloney theory of copyright," which illustrates how copyright can be divided into infinite pieces. When an exclusive right in copyright is transferred—like granting exclusive rights to exploit a video in a specific location for a set time—an ownership interest is created. This contrasts with non-exclusive grants, which are licenses. Exclusive transfers must be documented in writing and signed by the original copyright holder. Ultimately, owning copyright means retaining all rights not specifically transferred to others.