The Client owns the Domain Name registered. Gandi simply acts on the Client's behalf. Client acknowledges that Gandi services consist only of including in the shared Domain Names database, the Domain Name choosen by the Client, for the duration of the present contract and without prejudice, notably, that the Domain Name is available and that the Client respects terms and conditions of the present contract.
I have yet to find another registrar that states in such unequivocal terms that the registrant owns the domain. No longer am I a subject of the evil (and ridiculously expensive) empire of Network Solutions.