Instead of having to read entire documentation and sift through all the legalese, can someone outline the more common licenses in language that is short and sweet and gets right to the point?

Specifically, I'm using a 3rd party control that uses the Apache 2.0 license. My intention is to use this in a proprietary application that I am building for a corporation's use (not resold, but I'm being paid for my work). Does this mean I can or cannot use this control? Does it mean that I must maintain copyright/license information in my code? Does it mean that I must mention copyright/license information in a clearly visible location in the app?

EDIT

In response to an answer below with a link to an article by Jeff Atwood, the Apache license is described as follows:

Apache License Open Permissive 9
Requires derivative works to provide notification of any licensed or proprietary code in a common location.

Does this notification need to be in a "common location" in my source code or a common location visible within the app? What if this were a non GUI app (I'm assuming that could very well be my answer)?

Thanks for the responses!!!