I want to install a new update, do I need to deactivate the existing or get a new license key?

The short answer is No; you don't need a new license key and you don't need to deactivate the current permanent key. Simply, do the following:

  1. Uninstall the existing version of the [Product].
  2. Install the updated version
  3. Using license manager, enter the current license key and email address.
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