Who retains the rights to Collaborative Fiction?

I remember reading a some time ago that ATS gains the rights to whatever is posted within the message boards/blogs. However when it comes to intellectual property such as works of literature/fiction, who would retain the exclusive rights? The Author or ATS?

www.abovetopsecret.com...

18.) By posting on this message board, you relinquish all exclusive copyright privileges to the material you post and you grant me non-exclusive rights to publish your posts in digital form, hard copy, book, magazine or other publishing medium in perpetuity.

You (or collaborative authors) still retain ownership, however, ATS is granted the right to republish what you post.

Simon Gray could publish a "ATS-Book" with all posts..and we see no money??

Originally posted by dacruz
Simon Gray could publish a "ATS-Book" with all posts..and we see no money??

o_O I doubt anyone would read that, but it would be funny...

o_O I think we should all publish Pisky's stories o_O ALOT of people would by them...

And I can brag since Im Myn's body guard in it