cPanel VPS license will ONLY work on servers with virtualization software such as Virtuozzo, Xen, OpenVZ or VMware software installed.
Virtualization software sets up different virtual instances within a physical server that you can resell to clients.
You will need to have one cPanel VPS license for EACH virtual instance that you setup on you server.
cPanel Dedicated Server licence is required to run cPanel on a physical, dedicated server.
There are no differences in features or functionality between a cPanel Dedicated Server license and a cPanel VPS license: all options are exactly the same.
With both licenses, as long as the server’s base IP has a cPanel license on it, it will cover unlimited IP’s and unlimited cPanel hosting accounts that are set up on that server.
