Resell Rights — Master Resell Rights — Private Label Rights Products

Resell rights products are products that you buy and you can resell the products yourself, without paying a royalty or a commission to anyone. This is one powerful way to build profits into your list. Because it is a digital product, if you buy something for $27, for example, and you resell it for $27, you have made your money back in the first sale. But what is really nice is that if you sell 10 more, you clear $270 and have not had to spend any more money to do it.
Master Resell Rights Products (MRR)

Master resell rights products are similar in nature to the resell rights products, but these generally come with the ability to resell not only the products, but the right to resell the product. These often cost somewhat more than the resell rights products, but again because they are digital products, you can sell them again and again for additional profits.
Private Label Rights Products (PLR)

Now private label rights products are especially nice because these products not only come with resell and master resell rights, but they are generally accompanied by the source code to the product (for example, the Word file) so that you can edit the product, improve it, put your name on it, and sell it as your own. Depending on the rights that come with the product, in some cases you can even resell the private label rights to the new product that you create.

Now one word of warning with these products: you do not want to put your name on the product itself, because when you are writing original product and putting your name on it, you always want your customers to know that your products are yours, to keep the value of your name on it. You do not want to have your name on something that might pop up somewhere else with someone else’s name on it, and be essentially the same product. That is the big danger with private label rights products.

Courtesy: http://EzineArticles.com/384087