Version upgrade or educational?

The cost is about the same. The man at the bookstore told me I don't have a license if I update, but two licenses if I purchase the educational version (I plan the Master Suite). Is this true? If I upgrade, can only install on a computer?

The two are produced under license. However, by purchasing the academic version, you retain the license to your old product. It doesn't give you an additional license for CS5, however.

License allows installation on a secondary computer (laptop, for example) as long as the two machines running the software at the same time.

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