A license manager is a tool that facilitates effective software management between end users and software vendors, allowing greater user control over program implementation or deployment, including free trials, subscriptions, updates and activations. Additionally, a software asset management program may include an integrated license manager.A license manager is also known as a software license manager.
Techopedia explains License Manager
A major issue among software vendors and end-user organizations is piracy, due to the lack of control over authorized software users, as well as the proliferation of non-genuine programs. Thus, a license manager, greatly reduces such instances because the monitoring is duly assigned to software vendors and other authorized personnel.
License managers are based on different models, including but not limited to floating licensing, product activation, trials and subscriptions. Examples of license managers are Open IT, Software Protector and IBM LUM.