If the full path to the license file is too long, the Vivado tool will not be able to find the license file, even though License Manager reports that the license exists and is properly installed.
Try one of the following:
- move the license file to \.Xilinx or
- shorten the license file name.
Check also: http://www.xilinx.com/support/answers/33026.htm
If the IP has been added to the Vivado project prior to the correct license installation, Vivado may keep reporting that the IP is not licensed even after the license file has been properly installed with the path that is short enough.
In this case it is recommended to close the project and close the Vivado tool. Verify no Vivado processes are running in the background (use utilities such as Task Manager on Windows or System Monitor on Ubuntu Unity desktop to stop any background Vivado processes). Once verified, reopen Vivado tool and project. Now the tool should recognize the license.