In some scenarios you may not need an instance of the component on the form, but you would like to create one or more instances at runtime. In this case, the project will not contain a licenses.licx file (or the file will not contain appropriate runtime license for the components) and therefore licensing will fail.
To fix this problem, you can manually create a runtime license for the project. See Create a Runtime License.
If you are developing a WinForms or WPF .NET Framework application, or working with older products that don't use MESCIUS Licensing, you may also fix this problem by manually generating the licenses.licx file. Add an instance of the component to the form in the project. This will create the licenses.licx file and things will then work as expected. (The component can be removed from the form after the licenses.licx file has been created).
One can also create licenses.licx file manually using a text editor or Visual Studio itself by opening the file and adding the valid license entries. When Visual Studio recreates the application resources, the component is queried and its run-time license gets added to the appropriate assembly resource. See Generate Licenses.licx File Manually.