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In this segment, Sky Morton discusses copyright transfers within U.S. law, describing it using the "baloney theory" where copyright can be divided into infinite pieces. When exclusive rights are transferred, an interest in the copyright changes hands. For instance, giving someone exclusive rights to exploit a video in a specific location for a limited time represents a portion of that copyright. This is distinct from a non-exclusive license, which does not involve an ownership transfer. Exclusive grants of copyright interest must be in writing and signed by the original copyright holder. Ultimately, owning the copyright means retaining all rights not transferred to others.
