If not what is limitation and if yes then how long ?
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ok , but I have one doubt that Can we use this same license as a company and develop our required product without any other license ? I mean we don't have to spend a massive amount for other software like IAR workbench and all right ?
You can use the free CCS license to develop your product, however, please note that the CCS license is a node-locked type and associated to the TI debugger (XDS100/v3XDS110). More details are in the CCS Licensing Wiki.
Best wishes