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Types of Licence

There are two main types of licence: exclusive, and non-exclusive.

An exclusive licence means that the sound being made for your media is only ever going to be used in that specific media. Nobody else gets to use it.

A non-exclusive licence means that other people can also buy the right to use the sounds.

Advantages and disadvantages

Exclusive is more expensive. The sounds will be associated exclusively with your media, and audiences often end up associating a specific song with a specific film or game. This helps give that media a unique and memorable character.

Non-exclusive is cheaper. However, if someone recognises the same sounds in two different things, their immersion may be ruined. Also, it detracts from the uniqueness and impact of your media.

A few other options

If you expect your media to have a short lifespan, you can commision a limited term exclusive licence. This means that the sounds won't be sold to anyone for a certain period of time, which gives some space for your media. This is cheaper than exclusive, but more expensive than non-exclusive, and might not always be on offer.

Custom made or pre-existing

Are the sounds being custom made for you, or are they pre-made?  

Pre-made non-exclusive is the cheapest, but you'd need to search a while to find something that fits, and it might be quite generic, and it might not fit well with your other sounds. 

Custom made non-exclusive is more, but more expensive than pre-made.

Finally, there is pre-made and custom made exclusive. Again, pre-made exclusive is cheaper than custom made.