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It is short for "All Rights are reserved". Hence, 'reserved' is a verb in the present simple passive voice. The regular construction of the present passive is the present tense of the verb 'to be' followed by the past participle of the verb.
All rights reserved was a formal notice that all rights granted under existing copyright law (ie. the right to publish a work within a specific area) are retained by the copyright holder and that legal action may be taken against infringement.
Passive: All rights are retained or reserved by the copyright holder.
Active: The copyright holder retains or reserves all rights.
All rights Reserved 
Re: All rights Reserved 
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