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You can't secure PHP outside of using precompiled code in something like the Zend engine (which can compile and execute precompiled code). Any software where people are given source code can be modified to remove licensing limitations.
Zend also has this: Zend Guard - Encode Your PHP Application to Protect Your Code - Zend.com.
i dont think you can realy make a license system in php, Unless your talking about an actualy website then yes. If you talking about a script people can download and then they need a serial to use the script because whoever downloads it can easily edit the php to skip the licence system or just delete it.
Agreeing with aaron.
You should try and incrypt it. Like so with A5GN make it more like ASKJHFLKkjhsdg7sdfkjoi7asl...
Thats just a simple script plausible through mysql. Which realtes to php/ And then have the key shown to the user. Although have the url encrypted.
Im not sure if that was 100% understandable