What is the difference between owning a software program and using one that is based in the $$cloud$?$

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Owning a software program means it is downloaded directly onto your computer and it uses storage and memory.

There are no differences between owning a software program and using cloud based software.

Owning a software program means you own the rights to it and can access it via the $$cloud$.$

Owning a software program means you have unlimited access to use it on the cloud.