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I don't think that financially they'd be able to support internet-only Live products, as businesses will do as much as possible to avoid it. For big business it is a huge burden to rely solely on an internet connection where if that connection is lost, some business function will cease until it is corrected.
I'd guess that Live products will be purchasable in a stand-alone format for intranet use to business (similar to how they sell their SMS product that distributes updates that bypass the microsoft genuine advantage checks per-machine) and that it'll have some kind of protection that makes it extremely difficult to remove watermarks (similar to IDA), making illegal distribution easily trackable.
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