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Sky Morton discusses copyright transfers under U.S. law, using the "baloney theory" to illustrate how copyright can be divided into multiple parts. Transferring any exclusive rights in the copyright means transferring an interest in it. For example, granting someone the exclusive right to exploit a video in a specific location and timeframe represents a division of the copyright. This transfer must be documented in writing and signed by the copyright owner. Ownership of a copyright means retaining all rights not transferred to others. The discussion emphasizes the necessity of formalities in exclusive copyright grants versus non-exclusive licenses.