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Originally Posted by ApK
If giving an ebook to friend took it away from you, so you could not read it or give more copies to others, as is the case with a physical item, like a book, (like the Kindle lending program tries to do), we'd probably not be having this debate.
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If that's true, why do publishers have the option of not participating in the Kindle lending program? Why not allow people to transfer ownership of their Kindle libraries, transferring the book to someone new?
This debate is not about "only one person at a time is supposed to be able to read a book." It's about publishers trying to implement "one buyer = one reader."
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Similarly, as has been pointed out before, no one is trying to stop you from lending your ereader to your friends and family for them to read on. The device's physicality, like a pbook's, imposes sufficient control.
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No, Smashwords and some other stores have said it's against their TOS to loan your reader with books on it to another person--including your spouse. You're supposed to buy another copy if a second person is going to read the books, even on the same device.