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There have been some licensing changes in the released CRM 2011 Dynamics suite. Dynamics CRM offers editions that cover implementations for small, to mid-level, to even very large organizations.
EDITIONS

LICENSING
A Microsoft Dynamics CRM deployment operates by using a single product key. Microsoft Dynamics CRM 2011 does not require additional product keys to be added when changes are made, such as adding a client access license (CAL). The single product key contains the Microsoft Dynamics CRM version, server license, and the CALs.
You can view and upgrade a license in Deployment Manager. Deployment Manager is a Microsoft Management Console (MMC) snap-in that system administrators can use to manage organizations, servers, and licenses for deployments of Microsoft Dynamics CRM.
Client Access License Types
You can view and modify client access license types for each user in the Users area of the Settings area in the Microsoft Dynamics CRM Web client.
LICENSING STRUCTURE: ON-PREMISE SERVER EDITIONS
Every server that runs Microsoft Dynamics CRM 2011 requires a Server License. Two Server Editions are available for Microsoft Dynamics CRM 2011:
MICROSOFT DYNAMICS CRM WORKGROUP SERVER 2011
MICROSOFT DYNAMICS CRM SERVER 2011
CLIENT ACCESS LICENSES
Microsoft Dynamics CRM 2011 Servers are licensed under the Microsoft Server/CAL licensing model, meaning that they require a separate Server license for each Server on which the software is installed, plus a User Client Access License (CAL) for every internal user who accesses CRM.
The CAL functionalities supported for Microsoft Dynamics CRM Server 2011 are:
“Microsoft Dynamics CRM functionality “means that users may view, manipulate, input, query or otherwise structure CRM „live‟ data. „Live‟ data is information that, via use action, dynamically writes to or reads from, or synchronizes with Microsoft Dynamics CRM, whether it is accessed directly or indirectly.
EXTERNAL CONNECTORS
The Microsoft Dynamics CRM 2011 External Connector enables customers to extend CRM to their external users such as customers, partners, suppliers, and end users who access a copy of the server software (for which a license was acquired), through any application/graphical user interface (GUI), other than the Microsoft Dynamics CRM client. “External Users” are users who are not either (i) your or your affiliates‟ employees, or (ii) your or your affiliates‟ onsite contractors or agents, External users also does not include hosted-software service users, such as those already licensing via the Microsoft Service Provider License (SPLA).
An External Connector must be purchased for each server that hosts an application that provides external access to Microsoft Dynamics CRM 2011 data as described above. External users should not be using the Microsoft Dynamics CRM 2011 applications & GUIs directly. The alternative is for every external user to acquire a CAL
The External Connector provides external users with limited API access and limited read-write access to Microsoft Dynamics CRM 2011 data, such as that provided through any application/graphical user
An External Connector is a license only, and does not include any physical software components, and does not include licensing for any other Microsoft products. If external scenarios integrate with Microsoft SQL Server, Microsoft Office SharePoint or any other product license rights for these must be established separately.
ACADEMIC LICENSING
Microsoft Dynamics CRM 2011 will be offered at a discounted rate to qualifying academic institutions via:
Customers enrolled in Campus / School Agreement can take advantage of academic pricing through the existing campus and school agreements to subscribe to Microsoft Dynamics CRM Online. The service is coterminous with the underlying Campus Agreement / School Agreement enrollment. Institutions are not obligated to enroll all full-time employees or devices; the academic institutions can purchase subscriptions based on the actual users. Moreover, the institutions enjoy the flexibility to deploy the service in multiple stages.
Learn more at: http://crm.dynamics.com/how-to-buy
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