Intellectual Property Sharing

After yesterday's post, a question came in in one of the comments as to whether a designer would maintain copyright on a sketch which he/she submitted. Great question. I was going to respond in another comment, but I thought that that response would get buried, when this subject actually deserved front-row-seat attention by our community.
So here's the way we see it:

If you win a sketch competition, the company will pay you and in turn it will receive a non-exclusive license to market and to utilize the design.

If you win a final competition, the company will pay you and in turn it will receive an exclusive license to market and to utilize the design.

Stand by for refinements and yes, Great Question!