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MS Licensing: SQL Server Retail FPP Downgrade Rights?

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Does SQL Server Retail FPP include downgrade rights?

Specifically,  Microsoft SQL Server 2016 Standard w/ 10 CALs having MS-Part #: 228-10602.

Does it have downgrade rights for 2012?

Also, are the retail packs legal for use worldwide or do they have any geographic restrictions? (US pricing is much cheaper than Europe for whatever reason.)

Thanks!

PS: MS licensing is the hardest thing in IT.


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