Commercial wordpress!?

http://www.flipcorp.com/chameleon/ is a commercial cms that is based on wordpress. If you look at the demo it’s pretty much wordpress, with added plugins and a different admin theme.

What I find strange is the following:

“Chameleon Software Ltd. was founded in 2006 and is a registered limited liability company with its office in the British Virgin Islands and fully owned by Flip Holding Ltd. The company has acquired the intellectual properties of the market leading content management and e-Commerce platform “Chameleon” and licenses it to online production agencies such as Flip Media FZ-LLC and others.”

How can a company buy the intellectual properties of something that is pretty much wordpress?

How is this possible?

p.s Forgive me if I ask a stupid question, I just don’t understand how its possible for a company to own the intellectual properties of somthing that hare a opensource core.