Seems to be a bunch of words to say that you are releasing your image into the public domain. “Perpetual” and “non-exclusive” being keywords here. Generally, copyrights are never perpetual, they can be legally granted under special circumstances in some countries, or, by contrast, perpetual copyright is the US is forbidden by the Constitution - either way, it isn’t something you can just claim. Only public domain, or the absence of rights, is perpetual. Non-exclusive is also indicating that the Sponsors won’t have any ownership rights either, i.e. public domain.

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