Do I retain intellectual property ownership?

Each entrant retains title and full ownership in and to their submission. Entrants expressly reserve all intellectual property rights not expressly granted under the Challenge agreement. By participating in the Challenge, each “contestant grants the Department of Commerce, National Institute of Standards and Technology, a royalty-free, non-exclusive, irrevocable, worldwide license to display publicly and use for promotional purposes the contestant’s entry (“demonstration license”). This demonstration license includes posting or linking to the contestant’s entry on the Department of Commerce, National Institute of Standards and Technology websites, including the competition website and inclusion of the contestant’s submission in any other media, worldwide.” Please refer to the Terms & Conditions in the Official Challenge Rules.