Hi, welcome to Just Answer. I will help you with your question.
The author of the individual article is the person that retains ownership in the copyright.
This is, however, subject to some other form of agreement between parties, what an article is submitted for publication. Individuals can agree where the copyright will vest.
Hello, thanks, but thequestion actually is, who owns the journal? Please look again
Yes, but what you say "the journal" what do you mean? Do you mean the actual physical thing itself, which was originally pen put to paper?
Or do you mean the thing in unpublished form?
No, a journal is a periodical, review, magazine - e.g. Journal of Legal Studies, oyou must have consulted them in your studies?
Yes, I know, but I'm asking how you see it as different for the purposes of your question, so I can answer it specifically.
The owner of a journal is going to be the person that put it all together and published it. As for each article within it, then each would be owned by the individual author.
This point was addressed in the House of Lords case in Newspaper Licensing Agency -v- Marks & Spencer Plc  UKHL; it concluded what I mentioned in the above sentence.
Does this answer your question?
Ok, last attempt: bearing in mind there is no formal contract between the Society and the Publisher, who is the ultimate owner of the Society's Journal? - the Society, which arranges for and edits the Journal's content and so on, or the external, third party Publisher, which does the physical production, distribution,sales etc.
I don't think my answer is helping you and somebody else might be able to put it another way for you, so I'll be opting out.