Credits to Markus Alt of K2 Norther Europe for this guide.
In case you have to renew your K2 license key, there’s a just a few steps you need to do here.
First go to your K2 Server and load the K2 blackpearl Setup Manager from the Start menu.
Then you select Configure K2 blackpearl
The System Key is a hash value created onto the system, you should not modify that.
You just have to copy your new License Key to its field. This windows also allows you to request a new key, in case you do not already have one.
There’s nothing else to do then finish the wizard and restart the K2 blackpearl Server.
So, open up the Services console.
Lookup the K2 blackpearl Server and restart it.