Our company has a JIRA 500 user commercial license. We would like to know if we can install two instance of JIRA with user split of 200 in one instance and 300 user in another instance using same license.
No. Your licence is for one server at 500 users.
Atlassian are looking at site licences and will be introducing a 250 user licence level soon (I'm not sure what "soon" is though - I'd guess sometime between Summit and Christmas), but at the moment, you can't do this.
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