A system and method for licensing software using a clearinghouse to license only the technology modules that an end user registers. The clearinghouse maintains registration information which can be used to bill a software provider for the technology licensed to the end user. The system can be used to compensate technology owners only after the end user registers an unlicensed technology module. Thus, the system and method allows software vendors to reduce costs by licensing only the technologies that an end user actually uses. The clearinghouse can also be used to track the usage of software functionality to determine the popularity of a particular technology.