It seems like the Asset object would be appropriate, but serial numbers are not like assets: I can only assign a monitor to one person, but some volume serial numbers can be assigned to multiple people (or computers). There are multiple types of software licenses (volume, floating, node-locked, user account, etc).
I'm looking for a way to translate this kind of relationship into something that works in Salesforce. I don't see a way to associate many-to-many records to each other, the way Products/Assets/Contacts work together. Other than having many lookup fields on my Software License object...
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You can treat Software Volume licenses as Asset. Create a custom Junction object to Link Asset with Contact. It should allow you to handle all business use cases.