Final Cut Studio Installation Quesiton

I have a question about installation. It may be a bit obscure so bare with me. I had an older version of final cut and my friend did not. I read that you can use the serial number on Final Cut Studio twice (a laptop and a desktop I believe) so we were thinking of splitting the cost of the newest version of Final Cut studio.
This wouldn't be the "upgrade" version. What would happen on the computer that already has final cut? Would the computer automatically replace the older version/upgrade, or would I wind up with two versions of final cut? Should I just delete the old version first?
Any suggestions would be helpful.
Thanks.

You can't "split" a license with a friend.
You need two licenses.
x

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