I assume you are talking about the Cisco Secure Services Client version 5.1.1.x The easiest way to install the client license is to use the CSSC Management utility. This can be found on cisco.com under the download section for CSSC 5.x
If you have CSSC version 5.1.1.x you will need management utility "Cisco_SSCMgmtUtil_5.1.1.4.zip"
As for tracking the licenses. This is up to the System Administrator to keep track of based on the license agreement provided.
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