Ghostscript is an interpreter for the PostScript language and for PDF. Versions entitled GPL Ghostscript are distributed with the GNU General Public License, which allows free use, and free copying and redistribution under certain conditions (including, in some cases, commercial distribution). Licensing is handled by Artifex Software Inc.
Make sure a Ghostscript driver is installed on your machine, otherwise EPS/PS image files won't be imported by LaTeX-to-Word converter. Use Ghostscript driver 64-bit if and only if you have Microsoft Word 64-bit installed on your machine.