I purchased the movie, book, etc. Doesn?t that mean I can do what I want with it?
Mere ownership of a book, manuscript, painting, or any other copy or phonorecord does not give the possessor the copyright in the work. The law provides that transfer of ownership of any material object that embodies a protected work does not of itself convey any rights in the copyright. So, a FanFic author who purchases a book does not also purchase the right to create a derivative work based on that book, for example a new story or a comic.