Can copyright be bought and sold in Australia?
Copyright can be dealt with in the same way as other forms of personal property. It can be assigned, licensed, given away, sold, left by will, or passed on according to the laws relating to intestacy or bankruptcy. This does not apply to moral rights which are personal and which creators cannot transfer or assign. It is always best to obtain written evidence of permission to use copyright, rather than rely on oral statements.
Assignment
An assignment of copyright must be in writing and signed by or on behalf of the assignor (ie the copyright owner) to be legally effective. The assignment may be in whole or part and may be limited to one or more of the exclusive rights or aspects of them and may also be limited as to time or geographical area.
Exclusive licence
An exclusive licence grants specified rights to the licensee with a guarantee that those rights will be granted to no other person. An exclusive licensee can sue and take certain other actions as though he or she were the copyright owner. Exclusive licences, like assignments, must be in writing and signed.
Non-exclusive licence
A non-exclusive licence is a permission to exercise one or more of the copyright owner's rights in a work. It does not result in the copyright owner parting with his or her rights in the work. A copyright owner may grant numerous non-exclusive licences, but can assign any or all of the exclusive rights that comprise his or her copyright only once for the period of that assignment.