Who owns rights to image in this case?
garyrhook wrote: The license should specify what you can and cannot do with the original image. Per your description, this would be a derivative work, thus covered by the copyright of the original image. (Without further information, one cannot draw any other conclusion.)
If your license doesn't specify what's allowed, then you should not make any assumptions about what you can do, because copyright law is on the side of the original creator. So the above advice is incorrect.
Your license will also need to specify what you can do with any derivative work. E.g. commercial usage, stock, sub-licensing, etc.
As for a copyright statement, the only elements of a copyright statement are the symbol ©, original and current date of the work (if different), and the name of the copyright holder. All other elements are irrelevant. Missing elements make the mark pointless. Per US law, at least. And in most countries the use of the symbol is no longer even required, as it is understood that a created thing inherently has copyright. More at wipo.int .
good post 
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