Source: Microsoft

This Licensing guide can help Microsoft Commercial Licensing customers understand how Microsoft 365 Enterprise plans are
licensed through Microsoft Commercial Licensing programs. It does not cover Microsoft 365 Business or Education
plans. This guide is for informational purposes and does not supersede or replace any documentation covering
Microsoft 365 licensing. Specific license terms for Microsoft 365 are defined in the Microsoft Commercial Licensing
Product Terms site and the Microsoft Commercial Licensing agreement under which it was acquired. This licensing
guide is not a legal use rights document. Program specifications and business rules are subject to change. For
complete details and information on licensing, refer to the Product Terms site.