Seek legal advice in your jurisdiction.
Seriously, because the cases and laws are all over the place...
I perviously delved into the question of font licenses in Can I use a @font-face of "Courier New"? - and while much of that answer is about the font Courier, it exposed things like 'typefaces aren't copyrightable in the US'. Much about this is said in Policy Decision on Copyrightability of Digitized Typefaces from 1988 which states that the Copyright Act of 1976 rejected the ability to copyright a typeface:
The decision in Eltra Corp. v. Ringer clearly comports with the intention of the Congress. Whether typeface designs should be protected by copyright was considered and specifically rejected by Congress in passing the Copyright Act of 1976.
There are other forms of protection that may be applied to typefaces, such as design patents (such as the font used by Coca-Cola) and names may be trademarked. However, the font may not be copyrighted... at least in the US. The files that specify the font may still be under copyright, but this appears to suggest that one create another font that looks the same (as long as you aren't working from the original) the font and reimplement it and copyright wouldn't protect against that.
And that said, one should also pay attention to Adobe Systems, Inc. v. Southern Software, Inc where it was found that Adobe did have copyright over a font that was implemented as a scalable representation rather than a bitmap.
And all of this is applicable only to the US law... other countries do allow for copyrights on a font face.
So... talk to a lawyer. There are a number of different findings and laws and such that all intermix in this area that make it impossible for someone who isn't familiar with the law and intellectual property to navigate.
Further reading and referenced works::