This article describes how to address the error:
'iRise Studio failed initialization: Error creating bean with name 'licenseManager' defined in class path resource'.
Begin by navigating to the 'data' directory which is located in either of the below listed directories:
For Windows XP: C:\Documents and Settings\username\iRise\Studio\data
For Windows Vista and Windows 7: C:\Users\username\iRise\Studio\data
In this 'data' directory you should find the licenses.dat file the error is referring to. Locate this file and delete it. Once the file is deleted, restart Studio and you should no longer see the error.