I am using OS OpenSpace to create a database of location based information, does OS own this?
Yes. When you use OS OpenSpace to geocode data by adding geographical attributes to it that have been accessed from and/or made available by Ordnance Survey then the resulting data is considered to be derived from Ordnance Survey Data. OS would own such ‘Derived Data but grant you a perpetual, non-exclusive, personal license to use it within your application. Please see Clause 4.5 of the OS OpenSpace Developer Agreement.