I’m about to reinstall the OS on my Macbook, do I need to de-activate then re-activate the Lightburn licence (thus wasting one of my 10 activations) or will it recognise that it is the same physical computer (same ssd, cpu, network device, hostname etc)?
Thanks.
That works best, although you would not be stuck if this happened. As for the activations, this is an arbitrary number to help with overall security (protection for your key), and can be adjusted as needed without issue. 
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