The license manager install reads the information in the license file you received from ESRI Customer Service and converts each feature line into an individual license file (.lic). The license files for ArcGIS 8.1 are located in C:\Program Files\ESRI\License.
For example, the ArcInfo.lic looks like this:
SERVER server1 ESRI_SENTINEL_KEY=37146520 27005
VENDOR ESRI
FEATURE ARC/INFO ESRI 8.01 01-jan-00 1 3BFE602241F669DB9349 \
vendor_info="8DCZFL5B5R6D6RH8L023" ck=15
You should have a .lic file for each valid FEATURE line.
The second entry on the SERVER line is the hostname of your computer. Make sure the hostname entry matches the actual hostname of the system. The hostname entry is not tied to your keycode, and may be changed as long as it matches the hostname of the system that will be running the license manager.
The third entry on the SERVER line is the Sentinel Key number. This number should match the number returned by running Start > Programs > ArcInfo > License Manager > Display Hardware Key Status. Occasionally, the number printed on the Sentinel Key does not match the number returned by checking "Display Hardware Key Status". In this case, use the number returned by "Display Hardware Key Status" to request new licenses.
Notice this number always starts with a "3". If your email tool is Microsoft Outlook with Microsoft Word as the e-mail editor, all instances of "=3" will be stripped from your license file(s) as "=3" is a special Microsoft Word programming code. In such case, edit the license file(s) to restore the "=3".
The last item on each FEATURE line is the checksum number, and the checksum number can also be stripped of a "=3". The entry should contain "ck=" followed by a number. If the equal sign is missing, the number three will also be missing. In each case, edit the license file(s) to restore the "=3" in the checksum number.