Is the license per user, location, CPU, or per machine?

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Licensing is per machine WebWatchBot is installed on, regardless of the number of users or CPUs.

One installation of WebWatchBot Professional can monitor up to 50 different Watch Items either on the same machine or on a remote machine.

One installation of WebWatchBot Enterprise can monitor an unlimited number of different Watch Items (limit is dependant on hardware and other factors) either on the same machine or on a remote machine.