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Steam now warns customers they're only buying a license when paying for a game
(www.eurogamer.net)
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this post was submitted on 11 Oct 2024
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It has always been the case yet I’ve seen this urban legend that Valve has some kind of contingency plan that keeps your ownership in case they close down.
It has only ever been word of mouth. A non-binding promise by steam made years ago. It has credence because valve has generally been seen as a rare reputable tech company.
Also I'm pretty sure they took that out of the TOS a while ago.