The trademark "Drupal" belongs to Dries Buytaert, but the Association has the ability to use the trademark freely as long as Dries retains ownership and remains a Permament Member and as long as the Association takes reasonable steps to reserve the trademark rights.
More information about the trademark of Drupal, how it can be used, and how to get a license can be found on drupal.com/trademark.
Copyright and license of Drupal and Druplicon
The copyright of both the Drupal software and the "Druplicon" logo belongs to all the original authors, though both are licensed under the GPL. For more information about how this applies to Drupal, see the Licensing FAQ on drupal.org.
Dries Buytaert owns and retains full rights to the domain names drupal.org and drupalcon.org (among others), though the Association is granted permission to use the domains to achieve its goals.