The Microsoft Software License Terms tell you how you can legally use your Microsoft 365 product. For example, it tells the number of times your product key can be used for activation.
During Microsoft 365 Setup, please review the license terms and check the I accept the terms of this agreement box to continue setting up Microsoft 365.
You can also read the license terms later in a Microsoft 365 program:
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On the File tab, select Account.
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Select About [program name]. For example, About Excel or About Word.
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In the dialog, you can read the license terms in the Microsoft Software License Terms window.
If you get an error message or have other problems installing Office, please go to the Microsoft 365 Support homepage.