should I provide functionality like relative coordinates to the parent node?
I think yes. As this is one of main benefits of having parent child relationships. It shouldn't just be coordinates either but scale and rotation as well.
@BHXSpecter,
The FSF's free software licenses page might help: http://www.gnu.org/licenses/license-list.html
If you need more details you can e-mail them. Just take what they say with a grain of salt: they have a tendency to talk up the GNU GPL a little (mostly explaining why non-copyleft licenses are "inferior").
Alternatively, if there's a specific license, you can probably find a Wikipedia article about it. The benefit there is that it will be much more neutral. You can probably find a list of software licenses on Wikipedia too.
[edit] note: "MIT license" usually refers to the X11 license which is based on the one MIT used for the original X Window System.