dispensation vs license

dispensation and license both are nouns.

Word	Noun	Adjective	Verb	Adverb
dispensation	Yes	No	No	No
license	Yes	No	Yes	No

As nouns, license is a hypernym of dispensation; that is, license is a word with a broader meaning than dispensation:

Other hypernyms of dispensation include permission, permit.

dispensation (noun)	license (noun)
the act of dispensing (giving out in portions)	the act of giving a formal (usually written) authorization
an exemption from some rule or obligation	a legal document giving official permission to do something
a share that has been dispensed or distributed	freedom to deviate deliberately from normally applicable rules or practices (especially in behavior or speech)
	excessive freedom; lack of due restraint

dispensation (verb)	license (verb)
	authorize officially