Licensing has played a significant role in shaping digital innovation, yet its influence within artificial intelligence remains insufficiently explored. While AI governance discussions often emphasise utility and regulation, licensing acts earlier in the technological lifecycle by embedding obligations, incentives, and normative commitments into the conditions governing the circulation of AI capabilities. This paper contends that licensing serves as societal infrastructure, influencing the distribution of value, power, and accountability on a large scale. Drawing on socio-legal scholarship, software-licensing traditions, platform governance, and contemporary AI policy, it introduces a conceptual framework for impact-oriented AI licensing — a design space in which contractual terms guide socio-economic, environmental, and epistemic outcomes. The framework develops a taxonomy of six governance profiles: Sustainability, Value, Access, Reciprocity, Openness, and Governance. Each demonstrates how specific commitments can function as portable, scalable mechanisms for shaping the downstream effects of AI. Where Creative Commons and open-source licensing attach conditions to intellectual property, this framework attaches conditions to the deployment and use of AI capabilities — a distinct licensing object that requires its own contractual grammar. By analysing the propagation of licence terms through supply chains, markets, and institutional practices, the paper shows that AI licensing can complement regulatory frameworks and facilitate a transition toward more equitable and accountable AI ecosystems. The conclusion advocates for coordinated research and experimentation to advance licensing as a critical yet underutilised instrument of AI governance.