Until recently, apostrophes were used to form the plurals of abbreviations (MA's), dates (1980's) and words or characters serving as words (if's and but's). Today we don't use an apostrophe with the & ...
A discussion about punctuation marks is like opening the Pandora`s Box. Out come the full stop (.), the comma (,), the semi colon (;), the colon (), the question mark (?), the exclamation mark (!), ...
To see if you need to make a possessive, turn the phrase around and make it an "of the..." phrase. James's hat (James' hat is also acceptable. For plural, proper nouns that are possessive, use an ...