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It's a nice step but it's still too restrictive i.e. the time limit and only being able to lend a book once. If ebooks and ebook readers are supposed to mimic the experience with physical books then an owner should at least be able to lend their ebooks for an unlimited number of times and for any length of time. Just like with physical books
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I don't think they're comparable. You can't teleport your paper book to a dozen people around the world and get it back in flawless condition.