Bootcamp and Parallels - Activating windows

Hi Guys,
I know some of you run both Bootcamp and Parallels.
How do you go about activating XP for both bootcamp and parallels at the same time, have any of you seen any problems?
Cheers
Andy

This is not entirely correct. Here's the info from the MacInTouch coverage:
I'm no software licensing expert, but it appears to me, from reviewing the license for Windows Vista Home, Home Premium and Ultimate [license PDF 1] and Windows Vista Business [license PDF 2], that Vista Business and Visa Ultimate (the priciest versions) may be the only versions that can be installed in a virtual machine under, say, Parallels or VMWare's forthcoming solution. Here is the text in the Vista Home and Home Premium licenses which bans the software's use in virtual machines:
"You may not use the software installed on the licensed device within a virtual (or otherwise emulated) hardware system."
A licensed device is a "physical hardware system". Use in Boot Camp would still be OK. Moreover, the licenses for Vista Business and Vista Ultimate allow use in a virtual machine but state that, if you do so, you're not allowed to use any content protected by DRM. It states:
"You may use the software installed on the licensed device within a virtual (or otherwise emulated) hardware system. If you do so, you may not play or access content or use applications protected by any Microsoft digital, information or enterprise rights management technology or other Microsoft rights management services or use BitLocker. We advise against playing or accessing content or using applications protected by other digital, information or enterprise rights management technology or other rights management services or using full volume disk drive encryption."

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