David,
The team server versioning is technically and in practice a better system. Versioning (patching last months version) and branching, work locally and commit only when changes are tested. No more locking and update problems.
This architectual choices make it inpossible to go back to the multi-developer version.
The intellectual property is a good question. Until now it is a matter of trust, but many companies trust Google, Microsoft, SalesForces to keep their secret company data. Companies like diginotar that fail must close doors almost immediately.
I don't know whether current sprintr use is covered by a contract.