Product Shot Photography

So, a hat-maker friend has asked me to do some photographs of her wearing some of her hats, for publication in a magazine. For contract purposes, what is the industry standard for copyright ownership and rights of the photographer? Terms are TFD, at this point, with either me or her owning the copyright. When folks do product shots, do y'all usually treat it as work-for-hire, or is copyright retained with exclusive licensing to the product owner?

Thanks, Matt