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licence
Pronunciation of licence /ˈlaɪsəns/ (say 'luysuhns)

noun 1.  formal permission or leave to do or not to do something.

2.  formal permission from a constituted authority to do something, as to carry on some business or profession, to be released from jail for part of one's sentence under specific restrictions, etc.

3.  a certificate of such permission; an official permit.

4. Australian Historylicence of occupation.

5.  freedom of action, speech, thought, etc., permitted or conceded.

6.  intentional deviation from rule, convention, or fact, as for the sake of literary or artistic effect: poetic licence.

7.  excessive or undue freedom or liberty.

8.  licentiousness.

phrase 9. a licence to print money, an opportunity to become very rich.

10. under licence, subject to the terms of a licence agreement.

Also, US, license. [Middle English, from Old French, from Latin licentia]