The code is open source which means no legal ownership rights for anyone, everyone is free to read it in it's entirety and to even change and copy it as they please. See for yourself: https://github.com/bitcoin/bitcoin
But also Bitcoin rules are embedded within the code and once you download a version that you agree with, you can't be forced to download a new version if you don't like it.. there is no autoupdate.
Watch this for a bit longer explanation: http://www.youtube.com/watch?v=nZuTdRvZLE0
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