While selling your images may be the dream of many photographers, dealing with confusing contracts isn't part of that dream. To understand photography licensing rights you must first understand that unless you are selling a print, you are not "selling a photo" as such. What you are doing is selling permission to use that photograph in a certain way for a certain length of time. This is called licensing. While there are some basic common terms relating to licensing, there are as many different licensing situations as their are photographs. Understanding those basic common terms will help you understand more complex and customized terms as you endeavor to license your images.
PLEASE note - I am not a lawyer - always check with your lawyer for concrete answers to legal questions. This article is meant simply as a starting point of general information.
Commercial rights can be a very murky term when corporate lawyers get involved. However, a general explanation would be that commercial means any endeavor designed to create income or use by a commercial entity. Some examples would include: a sales brochure, magazine, advertisement, or billboard.
Non-commercial rights would be items that are not designed to create significant income or use by individuals or other non-corporate type groups. Things such as church bulletins, or someone printing an image to put on their school binder would be non-commercial usage.
When the word "first" is placed in front of other rights it simply means that the entity purchasing these rights gets to publish/use the image BEFORE anyone else who has purchased license rights.
Serial rights apply to magazines. This means that the magazine is licensing the right to use the image in magazine format. In other words, if you sell serial rights to magazine A you can't sell licensing rights to magazine B as well (unless you only sell "FIRST" rights - then you can sell more rights later).
Watch out for this clause. Non-exclusive rights can be a reasonable license to sell but they can also be a quick way to loose the use of your image. Non-exclusive rights means that the licenser has a specific set of rights at the same time someone else has them as well. The problem is that this clause is usually followed with a large amount of specific rights and many companies use this type of clause to allow them to reprint and resell your work on their own.
One Time Use Rights
I love one time use rights. Its very easy to manage. One time use means that the entity buying the license can use your image "one time", for one specified project.