Generally speaking, registration of "keys" takes place in the registry and/or are stored in some other location than where the general files for the program are located. The reason for this is to specifically prevent what you are suggesting. Many programs also add a machineID to the mix to make sure that it can not be transferred to another machine. But if you have the install program and the key, again generally, you should be able to install it on another machine, unless it has to check the company server for validation and then it would likely know that it has been registered on another machine.
Regards,
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