1. A computing device comprising: a trusted microchip having a private key; at least one processing device; and at least one hardware computer-readable storage media comprising executable instructions that, when executed by the at least one processing device, cause the at least one processing device to: obtain an entitlement certificate from an entitlement service server, the entitlement certificate including one or more entitlements describing license characteristics of a license for software, the entitlement certificate having a digital signature generated by the entitlement service server with an entitlement service private key; verify the digital signature of the entitlement certificate using an entitlement service public key corresponding to the entitlement service private key; after the digital signature of the entitlement certificate has been verified, send the entitlement certificate with the digital signature to a license service server other than the entitlement service server, the license service server generating the license based at least on the entitlement certificate, the license being signed using a license service private key other than the entitlement service private key; receive the license from the license service server; attempt verification of the license using a license service public key corresponding to the license service private key; obtain encrypted binding data associated with the license and unencrypted binding data associated with the license; provide the encrypted binding data to the trusted microchip and, in response, receive decrypted binding data from the trusted microchip; perform a comparison of the decrypted binding data obtained from the trusted microchip to the unencrypted binding data associated with the license; and prevent the software from executing on the computing device unless the verification of the license is successful and the comparison indicates that the decrypted binding data obtained from the trusted microchip matches the unencrypted binding data associated with the license, the trusted microchip being configured to: use the private key to decrypt the encrypted binding data to derive the decrypted binding data; and provide the decrypted binding data to the at least one processing device.