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This segment, presented by Sky Morton, discusses copyright transfers under U.S. law, likening copyright to a "baloney theory" that can be sliced into infinite pieces. When transferring exclusive rights in a copyright, the owner grants an interest in that copyright, such as allowing someone to exploit a video in a specific location for a limited time. This is different from a non-exclusive grant, which is a license. All exclusive grants must be documented in writing and signed by the copyright owner. Owning a copyright means holding all rights that haven’t been transferred to others. The segment aims to clarify these concepts with relevant examples.