Getting below Error when trying to setup the Community.

[SqlException (0x80131904): The SELECT permission was denied on the object 'cs_Licenses', database 'TelligentDB', schema 'dbo'.]
   System.Data.SqlClient.SqlConnection.OnError(SqlException exception, Boolean breakConnection, Action`1 wrapCloseInAction) +3189408
   System.Data.SqlClient.TdsParser.ThrowExceptionAndWarning(TdsParserStateObject stateObj, Boolean callerHasConnectionLock, Boolean asyncClose) +753
   System.Data.SqlClient.TdsParser.TryRun(RunBehavior runBehavior, SqlCommand cmdHandler, SqlDataReader dataStream, BulkCopySimpleResultSet bulkCopyHandler, TdsParserStateObject stateObj, Boolean& dataReady) +5042
   System.Data.SqlClient.SqlDataReader.TryConsumeMetaData() +87
   System.Data.SqlClient.SqlDataReader.get_MetaData() +101
   System.Data.SqlClient.SqlCommand.FinishExecuteReader(SqlDataReader ds, RunBehavior runBehavior, String resetOptionsString, Boolean isInternal, Boolean forDescribeParameterEncryption) +590
   System.Data.SqlClient.SqlCommand.RunExecuteReaderTds(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, Boolean async, Int32 timeout, Task& task, Boolean asyncWrite, Boolean inRetry, SqlDataReader ds, Boolean describeParameterEncryptionRequest) +3136
   System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method, TaskCompletionSource`1 completion, Int32 timeout, Task& task, Boolean& usedCache, Boolean asyncWrite, Boolean inRetry) +691
   System.Data.SqlClient.SqlCommand.RunExecuteReader(CommandBehavior cmdBehavior, RunBehavior runBehavior, Boolean returnStream, String method) +123
   System.Data.SqlClient.SqlCommand.ExecuteReader(CommandBehavior behavior, String method) +301
   System.Data.SqlClient.SqlCommand.ExecuteReader(CommandBehavior behavior) +105
   Telligent.Registration.DbLicenseRepository.GetLicenses() +137
   Telligent.Registration.Licensing.GetLicenses() +123
   Telligent.Registration.Licensing.CheckLicenses() +208
   Telligent.Registration.Licensing.Get(String licenseType) +102
   Telligent.Registration.Licensing.get_CommunityServer() +22
   Telligent.Evolution.Components.SiteSettings.get_EnableConversations() +20
   Microsoft.Xml.Serialization.GeneratedAssembly.XmlSerializationWriterSiteSettings.Write11_SiteSettings(String n, String ns, SiteSettings o, Boolean isNullable, Boolean needType) +906
   Microsoft.Xml.Serialization.GeneratedAssembly.XmlSerializationWriterSiteSettings.Write12_SiteSettings(Object o) +193

[InvalidOperationException: There was an error generating the XML document.]
   System.Xml.Serialization.XmlSerializer.Serialize(XmlWriter xmlWriter, Object o, XmlSerializerNamespaces namespaces, String encodingStyle, String id) +760
   System.Xml.Serialization.XmlSerializer.Serialize(TextWriter textWriter, Object o, XmlSerializerNamespaces namespaces) +105
   Telligent.Common.Serializer.ConvertToString(Object objectToConvert) +142
   Telligent.Evolution.Data.SqlCommonDataProvider.SaveSiteSettings(SiteSettings siteSettings) +285
   Telligent.Evolution.Components.SiteSettingsManager.Save(SiteSettings settings) +71
   Telligent.Evolution.Components.SiteSettingsManager.EnsureSettings() +302
   Telligent.Evolution.CSHttpModule.Application_BeginRequest(Object source, EventArgs e) +273
   System.Web.SyncEventExecutionStep.System.Web.HttpApplication.IExecutionStep.Execute() +139
   System.Web.HttpApplication.ExecuteStep(IExecutionStep step, Boolean& completedSynchronously) +91

One more Question:

EXECUTE[dbo].[cs_system_CreateCommunity]
 @SiteUrl = N'http://yoursite.com',
 @ApplicationName = N'telligent',
 @AdminEmail = N'notset@localhost.com',
 @AdminUserName = N'temporary-admin',
 @AdminPassword = N'[PUT A TEMPORARY PASSWORD HERE]',
 @PasswordFormat = 0,
 @CreateSamples = 0

after executing the above script,Site URl is saved in DB.

Do we need to use the URL which i have set here with this script or Do i need to invoke the URl which i have set in IIS during website binding?Please clarify