MIT is one of the most permissive free software licenses. Basically, you can do whatever you want with a software licensed under the MIT license - just make sure that you add a copy of the original MIT license and copyright notice to it.
The BSD license is another highly permissible license that allows you to modify and redistribute software licensed under the BSD license as you like just as long as you attach a copy of the original BSD License to it.
The MIT and BSD licenses, both, don’t require you to release the source code of your software, nor do they have any conditions about mixing the code licensed under them with codes released under other licenses.
However, in the case of the Microsoft Public License, if you do choose to release the source code of your product, you can do so only under the Microsoft Public License.
For your legal team in Bangalore.
What is the difference between the Microsoft Public License and the MIT/BSD licenses?