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Imagine yourself in a public library and you step away from the desk to search for a book. When you return, you realise the watch you left on the desk is missing. Whoever took your watch stole from you, not from the library, although it was a public, government-owned space. Now apply this thought process to the following situation: Will Coles installed a gun sculpture into Hosier Lane, a public laneway where street art is legal. The sculpture was imagined, crafted, and installed by Will Coles, and it belongs to him although he left it for others to appreciate. Consequently, the artist owns the street art. Furthermore, under the Australian Copyright Act 1968, Coles is the copyright owner of this sculpture and could file a lawsuit of someone tried to reproduce his artwork without his consent. In addition, the law would recognize Coles as the owner if someone tried to sell the gun sculpture. People are legally allowed to photograph and publish photos of sculptures permanently placed in a public space, but not of murals. Therefore, street artists producing murals also have creative ownership of their work.

Source: http://www.invurt.com/2014/04/15/insights-copyright-and-moral-rights-of-australian-street-art-graffiti/