As this moment, everyone in possession of the  Jet Activation Code would be able to signed up and manage Jet license in Jet License Portal. If you has the partner license Activation Code, not only you can manage the license of the license's owner, but also all their customer's license. Plus, you can easily found the Activation Code in the excel add-in, application setting windows. This would make the license(s) prone to be messed up with irresponsible users. 

Need approval  and/or validation system for any signed up user to make sure the the signed up user is authorized by the license owner, to manage the license(s).

Also we need log, to see who doing what and when. Also a backup and restore features, to backup and easily restore the license setting