The issue is: it is possible that the format you read with free software today cannot be read tomorrow because that free software turned illegal (because it infringes patents). The risk exists.

Formats that require proprietary software to be properly read/written are even worse. To some extent, MS Office's default formats match this definition ("to some extent" because free office suites make a very good, and very difficult, job at retro-engineering MS Office's formats).

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