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ryuzaki57 said:
Nem said:

SEGA owns the franchise. That means they can make how many Bayonetta games as they want (wich apparantly they dont want anyways), but the code of Bayonetta 2 belongs to Nintendo. Nintendo payed for it.
So, no. SEGA cant make a Bayonetta 2 sigma or whatever, because they have no rights to the code of Bayonetta 2, they only have rights to the brand. This means they would have to develop a new game from scratch, wich was what they didnt want to do in the first place, or Nintendo would have to be willing to sell them the original code.

Things like "changing a pixel" wont roll. A game is a set of code. Just because you change a pixel, 99% of the code is still the same. SEGA could try and do that, but it would not only ruin their good relations with Nintendo as it would end with a lawsuit in wich they would have to compensate Nintendo for it.

Well, that was the 2012 theory. I've gathered more intel since and wrote a second article

http://ryuz4ki57inenglish.wordpress.com/2014/09/28/as-expected-bayonetta-2-is-a-huge-flop-on-wiiu/

The most important thing is linked to what you said : It's OK if Sega decides to make develop its own code of Bayo 2, we agree on this? It so happens that Kamiya revealed that Bayo 2 development was stopped while the project had already advanced on other platforms. in others words, there are work-in-progress versions of Bayonetta 2 in PG's hard disks, that belong to Sega. All Sega has to do is tell PG to take those versions again and to finish developing them. This is a possibilty no one can deny.

Sigh, you just refuse to understand how Intelectual Property Laws work don't you?  Fine, whatever lets you sleep (and dream) at night.