In the early 1950′s, LIFE Magazine decided that the pictures that were shot for them by many wonderful photographers were their property and therefore, they had the right to re-license them. The photographer’s thought otherwise, and insisted that the photographs were their property to resell at their discretion.
This went to court and after a long heated battle with TIME-LIFE the photographers won the battle. The courts decided that the copyright remained with the photographer and the magazine had just licensed reproduction rights. The original property, after the contract was concluded, returned to the photographer along with the negatives.
via The End Starts Here.