If you have multiple major versions (e.g., SmartSVN 14 vs 15), each has its own settings folder. Licenses are usually forward-compatible for 1–2 major releases.
Here is the breakdown of its specific features: smartsvn license file
A SmartSVN license file is a small text file provided by the vendor that contains license metadata (licensee, license type, validity, and a signature). SmartSVN reads this file to unlock paid features (Professional or Enterprise editions). The format is specific to SmartSVN; you do not create one manually except when instructed by the vendor. If you have multiple major versions (e