-A *product key* is a 25-character alphanumeric code that represents a prepaid license for a Microsoft business product or service. If you bought a Microsoft business product or service from a partner or a retail store, you use the product key to activate your new subscription. If you buy a prepaid license for a product that you already own, you can [use the product key to extend the expiration date](#extend-the-expiration-date-for-an-existing-subscription) of your subscription. You can also [use a product key to add more licenses to your subscription](licenses/buy-licenses.md#add-licenses-to-a-prepaid-subscription-by-using-a-product-key). To reduce licenses on your subscription, you must wait to your current active subscription expires. Then you can create a new subscription with the desired number of licenses.
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