Videomaker – Learn video production and editing, camera reviews › Forums › General › Video and Film Discussion › Moral Dilemma or Legal Issue ? › I’m not an attorney but it
I’m not an attorney but it seems to me the operative phrase in your description of the situation is “he owns the rights to the video.” If your original contract (I do hope you have one) relinquishes copyrights to the material, your friend can do anything with it he likes. If not, then at least here in the U.S. you would own the copyright and could prevent his giving the material to a third party. Under U.S. copyright law, as I understand it, the fact that someone pays you for shooting and editing video does not necessarily convey the copyright to the payee, unless you are an employee of his company (work for hire.)
This is a sticky wicket, however, and I would consult an attorney to help sort this out if you have a serious desire to block the third party use of your material.
If you should decide to be a nice guy and let your friend give the work to the the pizza folks, you might insist that your company receive a credit at the bottom of the screen.