Actually, that I know of, the issue of mod ownership and the right to the underlying code of those mods has not been decided through case law. Of course, not all countries or states have the same reliance on case law, but until a developer or mod writer takes this question through the courts all these arguments are not worth the bytes they use on our computers.
From a business perspective, a game developer might find it beneficial to encourage mods which prolong the life of a game title and potentially increase sales. The alternative is to be consigned to the discount bin in a year. If mods keep your game fresh, a developer would likely welcome the community involvement in mod development.
Some one who were to step in and gather code otherwise available for free, with the consent of the developer, would of course risk angering the community that has embraced the game and may not profit as expected from their efforts. Such is life in the business world.
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