They’re calling it “Music Without Limits,” and the deal also calls for Rhapsody to provide sales and service for iLike, MTV Networks’ music group sites and Yahoo.

Probably one of the biggest factors in “Music Without Limits” is that, by selling MP3 tracks without any digital rights management, Rhapsody can now target iPod and iPhone users, thus leveling the playing field between the company and other DRM-free purveyors such as eMusic, Amazon MP3 and Wal-Mart.

Rhapsody is building its “Music Without Limits” philosophy on three conceptual cornerstones.

The first is all about the DRM, or lack thereof. RealNetworks has been complaining about proprietary digital rights management almost as long as it’s been in the online music biz, and at one point even distributed software for playing songs protected by Microsoft’s Windows Media DRM into something iPods can handle.

But now the company can boast that it is now offering tracks compatible with all mainstream personal players. Price is pretty much the unofficial Web standard – 99 cents per track and $9.99 per album.

The second cornerstone is about the where, as in giving fans the ability to stream full-length songs from some of the more popular sites on the Web, like social-networking and popular music-oriented sites.

No. 3 in Rhapsody / Real Networks’ cornerstone hit parade goes to mobile phones. To accomplish this, Rhapsody has established what it calls a “deep partnership” with Verizon Wireless.

One feature of the new “Music Without Limits” promotion is Rhapsody will offer full-length tracks for previews. In upcoming weeks, users will be able to fully preview up to 25 tracks per month instead of the usual 30-second snippets offered by other music services.

Any new promotion wouldn’t be complete without some kind of carrot to dangle in front of potential customers, and Rhapsody is no different. The online music store is giving away a free album to the first 100,000 to sign up for the new service until July 4.

“Until now, legal digital music has suffered from severe limitations on where consumers could buy it and how they could use it,” said Rob Glaser, RealNetworks chairman and CEO. “Music Without Limits fixes those problems and will make digital music easier and more valuable for consumers.”