Dedicated Licenses will only work on one particular computer. Upon special request, the license may be transferred from one computer to another.
Floating Licenses are not locked to a particular computer. A floating license allows any person to use the licensed product, up to the number of users on the license. So, for example, if a company has purchased six floating licenses, at any moment any six employees of the company can use the product. If one person stops using the product, any other employee may start using it.