Mach3 and Mach4 products are sold through the "ArtSoft" entity. Over the years this entity has been a freestanding company in Canada then owned by Art Fenerty, a division of NewFangled Solutions, LLC in Maine and now a division of MachMotion (aka Edge Solutions, LLC) in Missouri.
The word "license" in the context of software can refer to three different concepts.
A "license agreement or EULA" which states the rights and responsibilities of the buyer and the seller. It can be in the form of a signed contract or in the form of automatic effects such as proceeding to use a web site after notice is presented or opening a physical package with a notice on it. ArtSoft currently and historically has not used a formal "license agreement". Statements made in marketing materials or on a forum do not constitute a "license agreement".
A "license key" which is a mechanism to protect a software product which is designed to not operate fully if the license key is not present. This is the method that ArtSoft has traditionally used to protect their software. Mach3 license keys, when applied to the software, will show the buyers name on the startup screen so that it is possible to see if the name matches the user who presumably purchased the software. Mach4 utilizes a more robust mechanism that verifies that the license key matches the signature (PCID) or footprint of the characteristics of the PC for which it was issued, otherwise Mach4 runs in Demo mode.
"License policies" are restrictions presented or implemented outside of a formal "license agreement". These policies are often stated by the seller in their marketing materials and other documentation. Policies may interact with "license keys" to achieve control of usage. The "license key" for Mach4 is an example of this. A user of Mach4 Hobby is allowed to have up to 5 active "license keys" at once for Hobby use. If you already have 5 keys active, the license server will not generate a new license key until you deactivate one of the old keys. The license server also monitors activity to detect abuse of new key generation and may enforce management approval before more keys are generated. Mach4 Industrial and some optional software will restrict users to only one active license key at a time.
One policy that is stated in ArtSoft materials is that for commercial use (making money by using the software) the user is expected to purchase one "license key" for each machine that is engaged in commercial activity.
ArtSoft also suggests in its marketing that Mach4 Hobby is targeted at hobby users, but has never stated that commercial use of Mach4 Hobby is a violation of "License Policies".