This WordPress theme is comprised of two parts:

(1) The PHP code is licensed under the GPL license as is WordPress itself.  You will find a copy of the license text in the same directory as this text file. Or you can read it here:
http://codex.wordpress.org/GPL

(2) All other parts of the theme including, but not limited to the CSS code, images, and design are licensed according to the license purchased. More Info here: 
http://mythemeshop.com/terms-and-conditions/