The Ford Motor Company factually owns the trademark COBRA for all automobiles and has since 1963. Moreover, Ford also owns the Cobra emblem and any iteration of. Shelby has zero ownership in COBRA.
Ford licenses Shelby to use the COBRA mark on roadster models only -.
Aside from using the COBRA mark on the roadster, Shelby cannot use the COBRA marks on goods / merchandise. While I was at Shelby, Ford made us discontinue all usage of the COBRA mark on apparel, drinking glasses, etc.
Ford also owns the "tiffany" emblem, which was used on the side fenders of the 2007-2014 GT500s. Shelby was only allowed to use that logo provided it appeared with the "Shelby" or "GT500" mark. On the other hand, Ford could not use the "Shelby" or "GT500" mark with the tiffany snake logo with paying Shelby licensing fees.
The only snake logo, which Ford didn't really didn't contest was the one used on the 1969 Shelby Mustang GTs - internally, at Shelby we called this logo the "Drunk" or "Twisted" snake (photo below). Ironically, Shelby didn't have anything to do with the 1969 model year.
As a side note, Ford does not own the GT350, GT500 or GT500KR "King of the Road" marks.