Can I reuse my Windows 7 Liecence key on a new computer

After getting a new laptop 4 years ago on with Windows XP pre-installed, it was capable of living up to its use requirements useage, being a student on a Level 3 IT Course the computer is a key tool.

When Windows 7 was released I didn't jump straight into it as Windows XP still lived up to its needs but a few months after Windows 7 was out it was time to upgrade to keep up with the performance and security plus with Windows 7 offering more features it was

tough not to upgrade. So I went out a got a copy of Windows 7 Home Premium (32-bit and 64-bit). After installing the difference was clear it was worth the investment.

Recently this computer finally gave up the go and has since been replaced by a custom built tower currently using Windows XP Professional SP3 but it just not the same, as once you upgrade to 7 you never want to go back and still currently being a full time

student I could opt to purchase a 2nd Key at student rate but why abandon what already works?

More to the point will it be possible to use the same Product Key to activate the same Windows 7 on the new computer? I also understand manual activation may be required.

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