The Activation option is used to indicate the date you want to be used as the activation date for the subscription. This is also the date that will be used to automatically renew the subscription if it is set to autorenew.
The activation date is really just the date you want to consider as the date when the subscription term should begin. The activation date is important because the other dates in the lifecycle (like billing) either begin with the activation date or depend on the activation date.
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