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This the reason why I didn't sign up for KDP Select for the books I self published. You're effectively giving your copyright to Amazon.

Since I didn't I can still give free copies to anyone I want, because I'm the copyright owner.

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I'm not seeing anything in the agreement [1] that participating in KDP Select requires a copyright transfer. Am I missing something?

[1] https://kdp.amazon.com/terms-and-conditions

The difference between "effectively" and "literally". You're effectively giving Amazon your copyright because the contract gives Amazon control of who can make copies (and removes that control from the author).

Can’t you dissolve the contract at any time? In that case you’re effectively renting them the copyright.

You commit for 90 days, but, after that, yes, you can remove from KDP select any time

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