Syntax error with IF EXISTS UPDATE ELSE INSERT

Here is a simple and easy solution, try it.

$result = mysql_query("SELECT * FROM licensing_active WHERE title_1 ='$title_1' ");

if( mysql_num_rows($result) > 0) {
    mysql_query("UPDATE licensing_active SET time = '$time' WHERE title_1 = '$title_1' ");
}
else
{
    mysql_query("INSERT INTO licensing_active (title_1) VALUES ('$title_1') ");
}

Note: Though this question is from 2012, keep in mind that mysql_* functions are no longer available since PHP 7.

This should do the trick for you:

insert into 
    licensing_active (title_1, time) 
    VALUES('$title_1', '$time') 
    on duplicate key 
        update set time='$time'

This is assuming that title_1 is a unique column (enforced by the database) in your table.

The way that insert... on duplicate works is it tries to insert a new row first, but if the insert is rejected because a key stops it, it will allow you to update certain fields instead.