You cannot activate your licenses on virtual machines. You can activate them on physical computers only.
To run automated tests in a virtual environment, you use virtual machines as test workstations and run TestComplete (or TestExecute) instances on them and use some physical computer as the License Manager PCs.
In addition, if you have a Floating User license of TestComplete and you installed your TestComplete instance on a virtual computer, you do not need to activate the license there. All you have to do is to activate the license on a physical License Manager PC; activation on workstations is not needed.
For information on running TestComplete on virtual machines, see Using TestComplete on Virtual Machines.
You can try resolving the problem by using the Licensing Troubleshooter on our web site: