I was too.
Here are the 5 kinds of resell and plr rights every internet marketer needs to know.
1) Give Away Rights
This grants you to give an item to others as long as you don't charge them anything for it.
2) Royalty Rights
Every time you sell an item (that belongs to someone else), or use an item for commercial use you have to give a certain percentage of the money earned to the original owner. This is assuming you have the rights to use it/sell it.
3) Resell Rights
These rights not only give you permission to sell the item to anyone you wish, but you keep all profits made on the sale. However there may be stipulations like having the original author's name credited, you may not edit the content, or a specific price must be set if you were to sell it.
4) Private Label Rights
This is the most flexible kind of resell rights. With these, you can put your own name on an item as if it was yours to start with. You can alter it, rename it and claim it as your own. You also have complete control over its sale and what rights you prefer to sell it with, if any. Basically, you could do whatever you want.
5) Master Resell Rights
With this type of right whomever you sell a product to have the ability to turn around and sell it to somebody else.
In effect, your buyer of can make money off the product you sold them by turning it around and reselling it, legally.
Wanna know some examples where you can utilize this to make money?
Of course, you do.
As in internet marketer, you have to be smart on which rights to use appropriately.
For example, you can use "give away rights" when you want others to give away your products (with high value) as a free product, creating a viral product linked back to you.
Or, you could make money using "royalty rights" when you have a strong brand, and some other business owner decided to use your brand name to sell an entirely different but related product.
In resell rights, you can make money when you discover a quality product (that you cannot find anywhere else) and sell it to your current customers, and yes, keep all the money.
Private label rights are a favorite. You need some quick content? Video, audio, or text. Digg through some plr content and immediately use it for your business. A fast way to create something from scratch.
Master resell rights can be used when you created something really valuable (and will eventually be duplicated by copy cat wannabes) so you counter this by giving away master resell rights. It will deter the copycats from creating their own.