TIBCO Enterprise Message Service versions 10.4.0 and 10.4.1 have the following known issue:

Issue: A server set up for in-product activation, even with a valid license file, may fail to start if its license cache is invalid. The license cache can become invalid in various scenarios, including when the server's license file is replaced with one that was generated incorrectly. This affects versions 10.4.0 and 10.4.1 of EMS.

Workaround: Delete the server license cache files and restart it.

An EMS 10.4.0 or 10.4.1 server may fail to start when using in-product activation, even with a correct license file, if its license cache is invalid.