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Kindle and Kobo both use DRM, generally, and both use different formats. If you happen to have a book without DRM, you can convert it using Calibre or something similar, but you generally agree when you purchase ebooks not to share them. You'd have to strip the DRM, then convert formats.
Between husband and wife, or mother and child, etc. would be ok, generally, but you really shouldn't give ebooks that aren't public domain, or CCL to friends.
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