[Graham]

Originally Posted by Graham Coulson

The theory of a light, convenient electronic book reader is quite appealing to me, but I want to own my books – which should include the options of backing up, of transferring to another device, of reselling, of trading, of gifting and/or of lending them as I see fit.

For the purposes of discussion, you might want to separate these.

Backing up: DRM does not prevent you doing this.

Transferring to another device: DRM does not specifically prevent you doing this, as long as the device supports that DRM. This should be posed as "Transferring to any other device".

Reselling, trading, gifting, lending: Although the DRM makes doing these difficult, it's actually the licence granted with the eBook that prevents you doing these things. Most eBooks sold without DRM are also licenced on the condition that you do not pass them on.

For example from the terms of use at Fictionwise, and covering their books sold without DRM (my highlights):

All eBooks at Fictionwise.com are the exclusive property of the publisher or its licensors and is protected by copyright and other intellectual property laws. The download of these product(s) is intended for the Fictionwise Member's personal and noncommercial use. Any other use of eBooks downloaded from Fictionwise.com is strictly prohibited. Users may not modify, transmit, publish, participate in the transfer or sale of, reproduce, create derivative works from, distribute, perform, display, or in any way exploit, any of the content of these product(s), in whole or in part. By downloading Fictionwise eBooks, the User hereby acknowledges and agrees to these terms.

and

eBooks cannot be printed, copied, or "loaned" to others due to copyright laws.

Graham