I think you do. As long as someone paid to get the software to begin with, I don't think they are prohibited from selling or giving the orginal CD away. If they made a copy to keep, their copy would be illegal. That's my view anyway.
To answer your question you do not own the game, you own the licence for that copy of the game. The licence entitles you to unlimited use of the product as long as its not for commercial purposes. Not illegal at all.
A computer geek that knows the law.... scary yes... for the RIAA!!!
I believe Shane25 is correct - if you read any End User Licence Agreement it states that you can use on one machine, use for unlimited time etc, but prohibits you from decompiling / reverse engineering, hacking, into the program, sharing, lending, copying it.
Even though you do own that copy its only from the perpective of being entitled to use it.
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