Here's a quikie: Sauron poured his will and power into it, so he really created the mastery in the ring. He couldve taken over middle-earth without it, middle earth was lucky enough to have the ring in possesion of a bearer and knowledge of the wise. If the fellowship was sent out one month later, frodo mmight have been still in the Morgai as the Captains of the West challenged at the black gate. The Ring would have really helped though, and pleased Sauron.
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