Hey Dan - we do believe that Copilot and Teams Premium are "distinct" products based on Copilot working across the M365 portfolio whereas Teams Premium is specific to Teams. Some customers may opt for one over the other based on the needs of their organization, but they can absolutely work together. There is certainly shared commonalities about boosting productivity and helping employees focus on the important aspects of their work, but the distinction in my opinion is Copilot going across M365. We have not determined licensing models yet and are actively working with customers collecting feedback. In full transparency I am not a licensing expert or licensing SME, sharing my personal opinion on how the services are distinct. I wish I could answer more on the licensing but we don't have that information yet, sorry!