Permitting utilization of computer system resources in accordance with their licensing

Permitting utilization of computer system resources in accordance with the licensing thereof is disclosed. A method includes conducting an inventory of the resources of a computer system. The method determines which of the resources of the computer system are licensed for current usage, and permits utilization of these resources. Other resources of the computer system that are not licensed for usage are prevented from being used. The method may include determining which resources are licensed for usage with metering. The method permits the utilization of such resources, and tracks utilization availability of these resources. The method may further include determining which resources are licensed for periodic usage. Once the method receives indication to allow the periodic usage of these resources, the method permits their utilization, and tracks their utilization availability as needed. Preferably, the method performs its functionality without rebooting or restarting the computer system.