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The MIE tracks and manages the various licenses that are in force within your organization at any given time.  Licenses may be tied to specific contracts and are used by the license allocation engine to cover your current deployments (authorizations).  Licenses can be tracked and managed for any Managed Software List (MSL) title.

The MIE distinguishes between a license, which is a legal entitlement extended to your organization, and an authorization, which is a deployed instance of a MSL title.