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Installing Windows, Microsoft Office, or another Microsoft retail program will involve entering a product key. It should also be noted that Product Keys are called other names, such as activation codes/keys, CD keys, installation codes/keys, product codes, software activation keys/codes, license keys, and much more. There are limited product key slots in these instances therefore, if the software utilizing the key is closed, another will be free and used by other users.
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However, specific product key servers permit the same product key to be used by an unlimited number of persons so long as they are not all activated simultaneously. Product keys are typically only valid for one installation of the software used to activate them.