The Collaborative International Dictionary of English v.0.48:

Licentiate \Li*cen"ti*ate\ (-sh[i^]*[=a]t), v. t.
   To give a license to. [Obs.] --L'Estrange.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Licentiate \Li*cen"ti*ate\ (l[-i]*s[e^]n"sh[i^]*[asl]t or
   -sh[asl]t; 106), n. [LL. licentiatus, fr. licentiare to allow
   to do anything, fr. L. licentia license. See License, n.]
   1. One who has a license to exercise a profession; as, a
      licentiate in medicine or theology.
      [1913 Webster]

            The college of physicians, in July, 1687, published
            an edict, requiring all the fellows, candidates, and
            licentiates, to give gratuitous advice to the
            neighboring poor.                     --Johnson.
      [1913 Webster]

   2. A friar authorized to receive confessions and grant
      absolution in all places, independently of the local
      clergy. [Obs.] --Chaucer.
      [1913 Webster]

   3. One who acts without restraint, or takes a liberty, as if
      having a license therefor. [Obs.] --Bp. Hall.
      [1913 Webster]

   4. On the continent of Europe, a university degree
      intermediate between that of bachelor and that of doctor.
      [1913 Webster]

WordNet (r) 3.0 (2006):

licentiate
    n 1: holds a license (degree) from a (European) university