ReportBuilder (RB) licensing is similar to Delphi licensing – you need one RB license for each Delphi Developer.
You may compile ReportBuilder reports into an application and distribute royalty-free. You can also build royalty-free end-user reporting solutions. However you may /not/ build a stand alone reporting application, a query application, or an application that could possibly compete with RB in any way.
For example, let’s say I am user of RB and decide there is market for a query/reporting application that will import QuickBooks data and enable users to create/modify queries and reports. This application violates the RB license agreement. This application is a stand alone reporting application and does not add materially more functionality than what is included with RB already.
On the other hand, lets say I have an accounting system for car dealerships that I have created and I want to add pre-canned reports and end-user reporting to my application. This is ok. This adds reporting capabilities to an accounting system that I have written. Reporting is /not/ the focal point of the application and will be limited to my accounting database.