Yow! I had the same problem years ago due to a stupid boss: like your software's former owner, they installed the product using the original diskettes, and that brands those disks forever. The information is encrypted on the diskettes (disk 1, IIRC), and while there may be some hacking method of doing it, I've never encountered anyone who knows it.<br>
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You might try asking MS for a new diskette one, and offer to send them your original as proof of ownership. I wouldn't hold out a lot of hope, though.