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You could install OpenVZ on your dedicated server and allocate the resources to the VPS.
As I said, not on a VPS...
@webcraft
It's a VPS license, it has to be installed on a VPS. Even virtualizing one on your dedicated server and allocating all the resources to it is considered shady in some people's perspective.
By installing OpenVZ you can create one large VPS and use the licence on that VPS you created on your dedicated server.
I see what you're about, but I was asking for a way of doing it without such a virtualization.
Purchase a dedicated server licence.
Nevertheless, it doesn't really answer the question. I was asking for a theoretical way of doing so, not a practical. In praxis I use the license on a cloud-VPS.
There are no other ways, as mentioned already you have 2 options available.
a) Buy a dedicated server license
b) Virtualise and create a large VM
Ok.. anyway, these are practically ways, but it seems they're the only working ones.