A family of Microsoft word processing software products for creating web, email, and print documents.
If you have a Office 2016 perpetual license, you are limited to installation on one computer under one account. You can move it to a different computer on your account.
With Microsoft 365 you would have more options and could share your license with up to five more people. The Personal subscription is still for you only but could be used on multiple devices. The Family subscription allows up to six users each with multiple devices.