License files can be stored in a number of different locations. The choice of location will depend on the kind of installation you have; in most cases more than one option will work.
The default location for license files is the “Application Data” folder, the precise location of which will vary according to the Windows version (full details). Most VSN software licenses are valid for multiple versions of an application, installed to different locations on the hard drive. Storing the license in “Application Data” allows all versions of the application to access one license file, making it easy to manage. Future upgrades will automatically find an existing license and work immediately, so long as it is valid for the new version.
Alternatively, licenses can be stored in the application Bin folder. This requires a fresh copy of the license for each new version of an application (although the contents of the file may be the same).
If the software is installed on a local drive for each user, the license should be stored in the corresponding “Application Data” folders, as described above. However, if the software is installed on a network file server for general access by many users, the license file can be put in the Bin directory, alongside the application .exe file. This will avoid having to install the license key on individual machines.