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Unless you know otherwise, you should assume all fonts to be copyrighted works that are someone's property and treat them as you would any other software. Fonts are software products in their own right, and are protected by international copyright law as well as individual license agreements. Even redistributing so-called 'freeware' or 'public domain' fonts is problematic. If you have created a font yourself (without using anything from other fonts), it is your property.
The use of any commercial font is governed by the terms of its manufacturer's End User License Agreement (EULA). Several major font vendors specifically allow altering a font, as long as the altered font is only used on machines for which you have licensed the original font. If you have questions about what can or can't be done with a font, you should contact that font's manufacturer.
The Copyright Notice field in the Legal tab on the Font Properties dialog may direct you to the copyright holder, but be aware that this field may be blank, or may have been altered. Also the License Agreement and the License Agreement Link fields might have important information.