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With the release of 1.7.10, users are now required to agree to an EULA in order to run a server. This EULA is a simple text based file on your server labeled eula.txt with a boon-lean option that you must change from false to true in order for the server to start. The act of doing this is pretty straight forward and only takes a couple minutes at most. Despite this, the EULA implications are to taken with all seriousness; for more information please review the Minecraft EULA.
In short, the one major rule of running a Minecraft server is that you are forbidden from charging players real currency in exchange for in-game items that give an advantage over others who would otherwise play for free. This does not include cosmetic items/effects like colored name tags, trail effect, show pets, etc. For more detailed information of the EULA, review Mojang’s official documentation of the Minecraft EULA.
If you try to start your server without changing this setting you will see the following messages in your console:
[Server] Server thread/INFO You need to agree to the EULA in order to run the server. Go to eula.txt for more info.