Transfer Copy with First Sale Exception

Full Question: If a copy is obtained through a legal download can I transfer my copy to someone else under the first sale exception?

Answer: The answer is probably no. Usually copyrighted works made available to the public through legal downloads are licensed rather than sold. The first sale exception does not apply to licensed copies. Consequently, for licensed copies the terms of the license – not the first sale exception – will determine whether the copies can be transferred.