Ahead of a new law, the world's largest game store, Steam, now says that you are getting a license – not the game – when you make a purchase in the store.
Your library of purchased PC games on Steam could, in theory, disappear without a refund.
This is the implication of Steam's disclosure, now displayed prominently on the game store's website and in the app before you press "purchase" on the final page.

Steam has added the following disclaimer to its game store. Photo: FlatpanelsHD
Licensed, not sold
The newly added disclaimer links to Steam's 'Subscriber Agreement', which states that all games are licensed, not sold. It is not possible to play the games without an active Steam account.
- "The Content and Services are licensed, not sold. Your license confers no title or ownership in the Content and Services. To make use of the Content and Services, you must have a Steam Account and you may be required to be running the Steam client and maintaining a connection to the Internet," the terms read.
Despite the updated disclaimer on Steam, users are still ultimately directed to a page with a Purchase button, as seen below.

Steam claims that it doesn't "sell" content, yet there is a "purchase" button. Photo: FlatpanelsHD
The new law
The changes come ahead of a new law in California, which takes effect next year. The law requires digital storefronts to clearly specify if you are getting a license instead of ownership.
The law is a direct response to "purchased" digital content disappearing without compensation, which has happened in the past with PlayStation and Ubisoft.
Companies that violate the law will face fines for false advertising. However, the law does not apply to storefronts that offer the download of content for "permanent offline" use. Steam does not, nor do PlayStation and Xbox.
Currently, there are no similar legal requirements in the EU, but Valve, the owner of Steam, has apparently chosen to inform users worldwide.
A portion of Steam's games can be played on the TV through the SteamLink app.
- Source: Reddit