Error Message: "The license is bound to the 6.*.* version and the current version is 7.0. No licenses will be loaded."

Symptom/Problem:
Upgraded to v7.0; upon setting up the license an error: "The license file (C:\Program Files\Geosoft\Oasis montaj\user\lic\OasisMontaj.geosoft_lm) is bound to the 6.*.* version and the current version is 7.0. No licenses will be loaded.

Or, error regarding "This license is locked to a certain computer ID. This computer ID is different..."

Environment:
Upgrading to v7.0 from any previous version of Oasis montaj, Target, or to v3.0 of Target for ArcGIS.

Resolution:
Resolution 1)
1) Delete the following files from the C:\Program Files\Geosoft\[Geosoft Product]\user\lic folder: "OasisMontaj.geosoft_license" and "OasisMontaj.geosoft_lm" (or "ArcGIS.geosoft_license" and "ArcGIS.geosoft_lm").

2) Set up your license as per usual by going to Start | All Programs | Geosoft | [Geosoft Product] | License | Setup and enter your license key. Click the [Internet] button.

Resolution 2)
If this fails, please try the following:
1) Delete the \user\lic files above.
2) Phone or email the Geosoft Technical Support representative that's closest to you and report the error, along with your license key. Your license will be reset by the Technical Support Representative.
3) You will then be able to set up the license as per usual.

Root Cause:
This error occurs because your license was not properly updated during the upgrade to v7.0, perhaps because of a license server communication problem, or because the files were not properly copied over. As such, the license files are still attached to the previous version of your Geosoft product. Deleting these files, resetting (if need be), and setting up the license again will overwrite any existing versioning information relating to the licensing files.