There was a ruling in Europe (UFC against Valve [1]) citing that, as neither e-book nor video-game deteriorate with use, the customer doesn't have a right to sell it on the second hand market as it would affect the copyright holder interest :

> To entrench its position, the CJEU first mentioned that dematerialized digital copies, unlike books on a material medium, do not deteriorate with use and are perfect substitutes for new copies.

> Furthermore, the CJEU added to its reasoning that exchanging such copies requires neither additional effort nor additional cost. A parallel second-hand market would likely affect the interest of the copyright holder – contrary to the objective of the directive and the intention of the EU legislator.

1 : https://www.lexology.com/library/detail.aspx?g=77bb2501-995c...

Owning the physical book lets libraries lend out the physical books. Libraries can't lend out digital copies of physical books. They lend out digital copies that they have purchased.

Owning object is different that copyright. Copyright owner is only one that can license making copies. Owning a book gives no rights to make copies, with the exception of making personal copies.

As I understand it, as soon as the IA makes the digital copy they want to lend (digitally or physically), they now have two copies of the book and have committed copyright infringement. As soon as they lend a copy, there are now three copies in existence (unless they delete their copy as part of the loan) which is another count of infringement.