Example: "An accredited college"
To give a formal (usually written) authorization.
Example: "It was decided to license wikipedia under the gfdl."
Authorize officially.
Example: "I am licensed to practice law in this state."
(of a person or enterprise) having been issued with a licence (by the required authority)
Example: "Only licensed exterminators can purchase rat poison in this state."
(of an activity) authorized by licence
Example: "Even licensed fishing has a major effect on the fish population in the river."