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In this module, Dr. Raman Methyl from the Faculty of Law, University of Delhi, discusses the concepts of assignments and licenses related to intellectual property rights. He explains how these rights can be transferred from the owner to others, allowing participation in the exploitation of the intellectual property. Dr. Methyl provides examples of where licenses and assignments are commonly found, highlighting that even everyday products like Coca-Cola bottles and branded t-shirts are results of licensing activities. Additionally, software consumption also involves intellectual property licensing, showcasing its widespread application in various industries.