If the license manager is not running, you must start the license manager manually.
First, run:
%SYBASE%\SYSAM-1_0\sysam-1_0.bat
Then, go to %SYBASE%\%SYBASE_SYSAM\bin, and run:
sysam.bat %sybase%\SYSAM-1_0
Alternatively, you can start the license manager through the Windows Start menu:
Select Programs | Sybase | SySAM.