That rather depends what you intend to do with the copy, and what type of licence you have.
Enjoy,
Tony
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I need one to use in an Academic situation as we have volume licensing that allows teachers to install it at home. I do not wish to lend out the original install cd for this purpose for fear of damage/ loss.
AFAIK, actually copying the CD (for your own purposes - backup, etc.) is always legal. If you have a valid licence, then you can install the product from any media so what you suggest should be legal. You would, I presume, be responsible for what happens to the copies just as you would be for what happens to the original, so I would keep track of all the copies you make.
Enjoy,
Tony
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