You've no doubt seen "Private Label Rights" and "Resell Rights" titles thrown around all over the Internet. And many times these products and the rights they include can be confusing. But it's important to know the difference because they are NOT the same and you can get into serious trouble by violating copyright laws if you're not careful.
Furthermore, you want to make sure you understand them so when creating and distributing your own products you don't give away more than you want to by mistake or experience weak sales because you didn't use the right language in explaining your offer.
So, really simply, in general terms here are the basic rights. They each have variations, but this will give you an idea:
1) Unrestricted Private Label Rights - the most flexible of all rights and therefore most valuable. You can do nearly anything with these products including renaming, branding and selling as your own, editing, and bundling with other products in a package. You can also give them away, and you can sell or giveaway rights for others to resell, master resell, or private label. The danger with giving these rights is nothing prevents buyers from turning around and selling them the same day at ½ price and "stealing" your sales.
2) Private Label Rights - similar to unrestricted in that you can rewrite, edit, and call products your own. But usually they have some limitations like only sell above a certain price and cannot give for free.
3) Private Label Rights & Master Resell Rights - On the surface this appears to be an all encompassing agreement that really does mean when you download material, you can do whatever you wish to do with that material including selling others the right to resell it. Still, there can be limitations placed on those rights in the terms of agreements; for example you may not be allowed to post the material on another private label website.
4) Master Resell Rights - Having Resell Rights allow you to resell products but not edit them in any way. You cannot call them your own, you cannot add or edit the content. With Master Resell Rights, you can also give away the resell rights to others, and often you can give away the Master Resell Rights, allowing others to resell the resell rights.
5) Resell Rights - these are the weakest of all rights and therefore least valuable. You can only resell the product. You cannot change it in any way and you cannot giveaway or sell resell rights.