Is it possible that main exe execuite code from .lic file.
Yes, read the file into memory and perform any modifications necessary then thunk with a call/jmp BUT being that it is modifying memory and then executing it, AV may flag it as malware.
For the customised security of Software..
1.a license file like .lic etc contains information about valid serials,activation code,installation code and subscription expiry date and software version typy like Standard,Pro,enterprize,ultimate etc.
2.The .lic also contains some functions code which is depend on version type,for example Pro version has more functions than Standard.
3.When initialising main exe is reads all info about software and software type from .lic file which is provided to customer by vender.
Problem: One leaked license file and the system is compromised, welcome to the cat and mouse game of protection,
HR,
Ghandi