Universal/Uniform Naming Convention. A UNC path describes the location of a volume, directory, or file.
The format for a UNC path is \\server\volume\directory\ and is not case-sensitive. For example:
\\Shared1_svr\Shared1\WGroups\Network\abc.lic
The UNC pathname is the absolute path of the licence file but it does not include the license file name.
Assume a situation where an application is installed several times on the same machine, but in different directories: The Volume ID or MAC address is identical on all installations and therefore the application may be used by too many users (3 installations with 20 licenses allow 60 users to work with your software, but you only sold 20 licences). With this installation code type including the UNC path the problem of several installations in different folders is eliminated.
Notice that the UNC Name of the directory is used, not the mapped drive-name like f:\myapp.