Give Away Rights - This type of license allows you to give the product away as a bonus or incentive. You will not be allowed to sell it, and in most cases, you will not be allowed to change the product. You may, however, be able to brand it, which means that you can put your name on it and change some or all of the affiliate links inside the product to your own.
Resell Rights - As the name implies, resell rights simply allow you to resell the product. You may have the option of setting your own price, or you may not be allowed to sell the product for more or less than certain amounts. Resell rights do not entitle you to change the product, or to put your name on it as the creator in most cases. It also does not give you the right to resell the resell rights to others.
Master Resell Rights - Master resell rights are the same as resell rights, with one important difference. With master resell rights, you do have the right to sell resell rights, and possibly master resell rights to others. Consult the Master Resell Rights terms file that comes with your product.
Private Label Rights - Private Label Rights are the most lenient rights - and the best available. With Private Label Rights, or PLR as it is commonly referred to, you have the right to make any changes you want to make to the product. You have the right to put your name on it as the creator. You have the right to sell resell rights and/or master resell rights. You can literally do anything you want with the product. If you've purchased UNRESTRICTED or TRANSFERABLE Private Label Rights, you can even pass along both the source files and the Private Label Rights to your own customers, should you choose to.
It is always important to read the license agreement that should be included with the product to determine what kind of rights you have, and exactly what those rights entitle you to. Some PLR authors have recently started adding various restrictions to their PLR license, while others continue to offer unrestricted rights, some are transferable while others aren't, etc. - always check the license file to be sure, and if in doubt check it out with the product's originator or the marketer you purchased the PLR rights from.
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