Master Resell Rights (MRR)
You are free to re-sell the product AS-IS without modification. Your are free to choose if you pass on the MRR License to your customers. You can not give the product away for free. You can bundle the product if bundled with a paid product.
Private Label Rights (PLR)
You are free to modify this product and resell it. When you resell this product you should use your own Product images and wording (and not just copy ours). Your customers are NOT permitted to re-sell the product as PLR or for resale. Only you can re-sell the product.
Master Resell Rights + Private Label Rights (MRR + PLR)
This combined license has the greatest freedom. We recommend you modify it to at least suit your brand and colors, change some of the imagery. When you resell this product you should use your own Product images and wording (and not just copy ours). You are free to offer Reseller rights MRR or PLR to your customers. This is optional. You do not need to pass on MRR if you do not wish to i.e. you can sell the product with PLR only, or just commercial, or even personal use only.