They're licensing per user - just that MPEG-LA has a upper bound of what to pay annually (currently $6.5 million). That's something that Cisco can probably bett

They're licensing per user - just that MPEG-LA has a upper bound of what to pay annually (currently $6.5 million). That's something that Cisco can probably better manage than not being able to move forward with their plans. Question is if MPEG-LA closes that loop hole the next time they revisit licensing payments (but then, how? Microsoft and Apple profit from the same provisions, for example).