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Do I need a separate Oracle Database 12c (or older) license to run a failover server?

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No, as long as the otherwise passive(!) failover server is not going to be active for more than 10 calendar days for any given year and the failover server uses the same technical setup as compared to the productive system.

Source: Oracle Data Recovery Policy 2016

Whitepaper_Oracle_Data-Recovery-Licensing-2016-07-05Download

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