I think you will find that the copyright is on Pinnacle's device!

Pinnacle is one of several companies that locks their brand name capture devices to their own proprietary software i.e. they won't share that specific technology so that other software manufacturers like Ulead can ensure their software will also work on the device.
In other words, you have to use the Pinnacle software which came with the device to capture (probably some version of Pinnacle Studio), and then import the video into VS11 for editing.