1. A method for monitoring software product usage in a data processing system, the method comprising: installing an instance of a software product on a target entity of a data processing system; identifying, by at least one processor, a license condition that is applicable to the instance, wherein identifying the license condition comprises retrieving environmental information of the target entity and inferring the license condition applicable to the instance based on the environmental information, wherein inferring the license condition comprises at least one of (1) inferring a bundle license condition for the instance based on presence of at least one other software product on the target entity and (2) inferring the license condition based on an installation path of the instance; generating reconciliation information that specifically identifies the license condition that is applicable to the instance; and communicating the reconciliation information to a license manager configured to monitor software products installed on the target entity.