It would be interesting to know how they would classify modern "rented" software like the Adobe CS Suite or Office 365. They are installed on your machine but works like SaaS.

It's kind of a gray area for me at least, does it mean you own a copy or not? I'm sure it doesn't but I also know that legal system do not generally deal in shades, they are binary, either a or b.

If it legally means that you own a copy, this would in theory allow you to patch the online checking out of it to keep it running.