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Steam Now Warns Consumers That They're Buying a License, Not a Game During a Purchase
(www.cgmagonline.com)
this post was submitted on 11 Oct 2024
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On a legal level, it is how GOG works. They still only sell licenses. You just have the loophole that their installers and the games installed by them will work regardless.
While that may be partly true, (also likely) depending on the county you're located, they're not able to revoke the license though.
So in this specific case you having the files makes a world of difference.