"Xbox One [is designed] to enable our customers to trade in and resell games at retail ... Beyond that, we have not confirmed any specific scenarios." Microsoft's director of programming, Larry Hryb, June 2013
Microsoft has now said that games can be traded in, but only at "participating retailers".
Games can be freely passed on to friends, but only once - "There are two requirements: you can only give them to people who have been on your friends list for at least 30 days and each game can only be given once."