Found this:

http://www.danheller.com/biz-trademarks.html

For this situation Im relating a "render"  to a "photo"

Scroll down to the area where it says "Photos of Copyrighted items"

I think the water appears fairly muddy here and 3D isn't even something that is being discussed at any sites when I looked for this information.  I think it goes even further than what is being discussed here, like it says in that article, does the render effect the value of the model for the original copyright owner?  Well if this model figures primarily in a series of renders or in an animation where the model is depicted negatively maybe it would? 

Here's a quote from that section:

""The protections that copyrights provide usually come down to some economic measurement: is the display of a photo somehow having an economic effect on the copyright owner's ability to sell his product? Does it diminish its value? Similarly, is the use of the photo somehow enabling the user to benefit economically? That is, just as the "good will" of a well-recognized logo may help with the perceived value of a product that bears it, a "good design" (regardless of whether it's recognized) can have a positive economic effect on the user's ability to sell his wares. The question of whether any given use violates a copyright is judged on how closely one can attribute the use of the photo of the item in question with any of the hypothetical effects listed above. ""*

I am:  aka Velocity3d