Seriously, the pointlessness of this thread is just astonishing.
I'm halfway through law school, and seriously -- obtaining the 'IP' (by which I'm sure everyone just means obtaining the development/distribution rights) is a lot more complicated and costly than you guys think. I wouldn't even bother myself with the idea at all.
Here you have a game engine which has been turned over as open source, free to be used so long as no profit is made from it. This community has already taken it one step further by using not just the engine, but the story elements, the VPs, etc. which were probably never intended to be released for free. The simple answer to the 'worst case scenario' situation (ie: someone like Derek Smart buys the IP rights to develop a proper FS3) is really just that in that case, the SCP continues its work doing things as they please and someone writes an entirely new story, someone else designs all new ships, and the community releases a game devoid of Vasudans, Shivans, et. al.
If the worst case scenario is that the SCP team would have to create a new universe where Farks at war with Bluedogs or some other crazy storyline, that's not so bad -- the real prize here is the (at this point) heavily modified engine. Everything else is just window dressing, no reason to panic.