Personal Use
You can enjoy the product but cannot give it away, cannot sell it or cannot add it to a membership unless there are rights included with the product to the contrary.
Giveaway Rights
You are free to pass on the e-book or software at no cost to anyone. You might not be allowed to sell it. These rights are usually explained at the beginning of e-books or in a separate file included with the download.
Resell Rights
Generally, you are free to sell these products sometimes at a suggested resale price and you can keep 100% of the profit. You cannot pass on these rights to the buyers.
Sometimes they also come with pre-written sales pages, product images, download and thank you pages.
Master Resell Rights
With a product that has these rights, depending on the terms specified with the product, you could give it away, resell it, bundle it, give it as a bonus, create new information packages or include them in your own membership sites. You can also pass on or sell the resell rights to others so they can in turn sell them. If the terms allow it, you can also sell or pass on the Master Resell Rights to your customers.
Products with these rights, usually are more expensive but they give the owner more control.
Private Label Rights
With Private Label Resell Rights you get the source files so you can edit the content or product, add to it, create new images, remove parts, repackage it and call yourself the author and then resell it. You can use them as website content, add them to your membership sites etc.
These products are usually the most expensive but these rights open up the posibilities of what you can do with the product within the terms.
More information on rights here | 