For how long is the license valid?

[itsmorefuntocomupute]

When you buy the Full Version for instance, for how long is the license going to be valid? Do you need to renew every year or something like that?

And is it possible to upgrade to new versions with that license?

[HeneryH]

It is good perpetually but you will lose support (ability to upgrade versions) when your support contract runs out.

I think you get one year with a basic purchase of a license.