Abstract: Numerous methods of exchange are facilitated in which a physical copy of a previously-manufactured work embodying intellectual property in some tangible form, such as a physical book, are replaced with an electronic or digital version of similar intellectual property work, a replacement work or a derivative work. The physical item of manufacture is thereafter removed from the marketplace, or some aspect of its perceived private property value is diminished or destroyed physically or effectively so that physical items of tangible property are replaced by electronic or digital versions. To the extent first-sale doctrine under copyright law applies to physical or electronic versions of items, first-sale private property rights may be preserved for the benefit of the private property owner, even though the replacement electronic version of the work may be licensed, not sold, to the user through a disclosed mechanism of exchange.