You should contact directly Allan Haley at Monotype : allan.haley@itcfonts.com. He is in charge of this sort of things.

It depends on what country you live in. IIRC, in the States, you cannot copyright a design. If *you* digitize a font, say from a printed source, it is perfectly legal. You can then copyright your font data, but again, not the design. The font *name* may well have to be different. Some names are in the public domain (Janson, Baskerville, etc.)

Believe the situation on protecting a design is different in Europe. Don't ask about Asia.

Notice I said *legal*. Opinions vary on the ethics.

There already were several discussions on the topic (you could [Google] search the forum). Also, for a better chance to receive answers, you should move the thread to General Discussions (not Release).