Hi, I am having the same problem,
I am using QTP 11 with proper licence. so when i open qtp with admin privilege, qtp gives error "install valid licence".
Also when i run qtp with my localhost web application its working fine.
I am using QTP 11 with proper licence. so when i open qtp with admin privilege, qtp gives error "install valid licence".
Also when i run qtp with my localhost web application its working fine.

