It should also describe its use. LICENSE – This is the price that the licensor charges the licensee in exchange for rights allowing the use of one or more images in a manner prescribed by the license. The royalty can – and will – be based on factors such as editing, reproduction size and specific image qualities. Royalty Free licenses offer you the potential to make money relatively easily for your photos, but it is also possible to generate low income. If you share licensed images with image agencies, you can reach a much more targeted audience for your images, but not all images sell as well. Fees vary depending on the agency and images. UNLIMITED USE – That`s pretty much what it seems.