epub and Adobe Digital Editions

I have been researching ways to share commercial electronic books. One of the systems that seems widely used is .epub which originally came from Adobe Digital Editions but appears to have expanded to XO Laptops, the iPhone, and other non-proprietary readers. I’ve been wanting members of my team to read a book and it looks like I could buy the digital editon and share it with up to six machines. So ostensibly six of us could be reading a $10 book. Would that work?