Microsoft Dynamics CRM 4.0 license keys for products obtained in Volume Licensing are embedded in media -- the keys do not appear on MVLS  as they do for some products; nor are they printed on the media itself (DVD) or on the media sleeve.  The physical media and the downloads from MVLS/VLSC both will contain the license key in a text file, so Customers may either download the product or order the physical media and simply install it – the install will look for the license key file in either case. 

If the Customer started with a TRIAL version, and is using a TRIAL key, the only reason they would need to look for a license key is if they do not want to reinstall the product over the TRIAL, in which case they find the license key file in the download files or on the media and enter the key into the license manager.   The key will be located in a file called ‘license.txt’ in the download or on the media.

For Microsoft Dynamics CRM 4.0 media obtained through the Dynamics ERP product price list/Business Ready Licensing, keys ARE NOT embedded in the  media, and must be obtained from the Dynamics CRM Partner, who can obtain them in PartnerSource. 

Kam Baker