>I have developed an application which will be used by over 50 locations. I would like to prevent my application from illegal copy usage by unlicenced users. Is there any way to enact it?

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You can use a file with the serial number, some module settings the company name and a checksum.
Then each time you start the app check the checksum.
The company name you can place on the screen on startup and you can place it on the reports.