[alwayslikethis]

This is a part of it, but I don't think it's all there is. Words mean little when there is such a large power and information asymmetry between consumers and sellers.

The law should formalize the concepts of rentals (licenses) and purchases. Purchases create non-waivable rights of transferability and allows the owner to demand compensation when a service closes: for example if I shut down my movie platform, you should get to download a copy of everything you own.

Licenses on the other hand do not confer such rights, but should still be transferable under a certain value and have a set period during which its terms must be fulfilled, otherwise the licensee needs to be compensated. No "we change the terms at our sole discretion at any moment" nonsense.

Vendors can give you extra rights (like prorated returns or exchanges), but they can't take any of the codified rights away. I assume there needs to be some details about companies just setting a license of one day but never revokes access to avoid the regulation, but someone smarter than me can probably figure that out.

For larger licenses I think the customer (usually customers) has a greater negotiating leverage, so it isn't as necessary to codify these terms, but of course this is contingent on there not existing trillion-dollar corporations, which is not the world we live in.