I’m opening a bookshop that sells physical books. I have a machine that scans physical books and converts them into digital books. If a customer buys a physical book but wants to get a digital version for free, he can give me his physical book, which I store in my shop, and I can give him the digital version, but if the customer wants to get the physical version of his book, I have to take back his digital version. The only transaction the customer has to make is to buy the physical book, whereas nowadays, physical books are sold separately from their digital versions. Does my bookshop comply with the law?
I think the answer is no even if they own only a single copy (digital or physical) at a time.
This company copies home movies from VHS to DVD. The linked article implies that when you buy a product you’re only buying the format you purchased. So if you buy a physical book you’re only buying the rights to have the physical book, not a digital copy of the book.