Peter Gannon replied to a similar post a couple of years or so ago and said almost exactly what John and JohnJohnJohn have said above.

As I recall his comments, they were something like...

If copies of the program are obtained as upgrades, then they are tied in with the most recent version you're using and you need to give everything away including the most recent version. (Purchasing an 'update or upgrade' is extending the program that you already have. It is priced accordingly.)

If the copies were purchased as fully independent, standalone copies and not part of an upgrade process, then ownership can be transferred.

Hope this makes sense,
Noel




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