Software licensing refers to the legal agreements and permissions that govern the use, distribution, and ownership of software. It ensures that organizations comply with software usage terms, purchase the appropriate number of licenses, and avoid unauthorized software usage, which could lead to legal consequences.

Vulnerability management, on the other hand, is the practice of identifying, assessing, and mitigating vulnerabilities in software and systems to protect against potential security threats. This process involves regularly scanning for vulnerabilities, prioritizing them based on severity, and applying patches or updates to address the identified weaknesses, reducing the risk of cyberattacks and data breaches.