What Kontakt version do I own?

Some of the libraries requires the full paid version of Kontakt to work properly. This is indicated on the product page with the text "Full version of KONTAKT needed".
When loading one of them on the free Kontakt Player software, the library displays a "DEMO" message and will time out after 10 minutes. Kontakt can be bought from Native Instruments here, or as part of Komplete here.

To know what Kontakt version you own, follow the steps below:

First, load your Kontakt application. This can be done either inside your DAW or by navigating to the application via your desktop.

Once opened, you will see in the top left-hand corner that your application is either titled "Kontakt" or "Kontakt Player". The latter title indicates that you are running the Free Kontakt Player and NOT the Full Version of Kontakt.

See image below.

For further clarification, click the application’s title to open a box displaying more details. Again, in order to use the "Full Kontakt" libraries, your "License Type" needs to indicate that you have the “Full” version of Kontakt.