Error message opening PS CS3 Extended : "Licensing for this product has stopped working"

I used Migration Assistant to transfer data from my (very) old Mac OS X to a new iMac OS X Yosemite. Before doing so, I uninstalled my (also very old) PS CS3 Extended. When I tried to open PS on the new Mac it asked me to download Java, which I did. But now when trying to open PS again the error message is "Licensing for this product has stopped working". I purchased it about 5 years ago in a box which I no longer have, but I do have the complete 24 digit serial number. How best do I remedy this?

Download the Photoshop CS3 installer Max or PC here. You should be good to go.
Download CS3 products

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