The Collaborative International Dictionary of English v.0.48:

Licit \Lic"it\ (l[i^]s"[i^]t), a. [L. licitus permitted, lawful,
   from licere: cf. F. licite. See License.]
   Lawful. "Licit establishments." --Carlyle. -- Lic"it*ly,
   adv. -- Lic"it*ness, n.
   [1913 Webster]

WordNet (r) 3.0 (2006):

licit
    adj 1: sanctioned by custom or morality especially sexual
           morality; "a wife's licit love" [ant: illicit]
    2: authorized, sanctioned by, or in accordance with law; "a
       legitimate government" [syn: lawful, legitimate, licit]

Moby Thesaurus II by Grady Ward, 1.0:

31 Moby Thesaurus words for "licit":
   actionable, admissible, allowable, applicable, approved,
   authorized, competent, constitutional, innocent, judicial,
   juridical, just, justiciable, justifiable, kosher, lawful,
   lawmaking, legal, legislative, legit, legitimate, legitimized,
   licensed, permissible, rightful, sanctionable, sanctioned,
   statutory, valid, warrantable, within the law