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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 of intellectual property rights (IPR). He explains how IPR can be transferred from the owner to others and how owners can involve others in exploiting their works. Examples of licenses and assignments are common in everyday items, such as the Coca-Cola bottle, which involves various licensing processes for manufacturing and consumption. Additionally, merchandise like t-shirts featuring famous logos and software applications also result from licensing activities, highlighting the pervasive nature of intellectual property agreements in consumer products.