What is a Subscription/Rental/Renewable License?

A Subscription License is a license that requires regular payment at predetermined intervals to keep the software operational. Typically the interval is monthly, annually or muti-yearly e.g. every 3 years. Most Subscription licenses require internet connection for the license to be checked at regular intervals. Many but not all Subscription licenses include updates to the latest versions at no additional cost. Many, but not all Subscription licenses are also Floating licenses.