George B. Selden was a man who invented something very important called the automobile, which is like a big car that we use to travel to different places. But he didn't invent the actual automobile, he invented the idea of the automobile.
This means that he came up with the concept of putting an engine in a carriage (a big wheel carriage that was used to transport people) so it could move by itself. Like putting a magic potion in a flower and making the flower turn into a high-speed car.
But just coming up with an idea is not enough, you also need to make sure nobody else can use it. So George B. Selden filed a patent, which is like a special paper that gives you ownership of an idea or invention.
This paper would make sure that nobody else could make a car that looked similar to the one he came up with, so he could be the only one to sell it and make money.
Even though he never actually made any cars himself, he became very rich by licensing his patent to car companies who wanted to make their own automobiles. This means that they paid him money to use his idea so they could make their own automobiles too.
So in a way, George B. Selden was like a very smart kid who came up with an amazing idea for a toy, and then made sure he was the only one who could sell it to other kids.