The packaging of this application is somewhat complex. But in order for this to work you have to do the following.
1) install the application and use the file called ipsactive.exe in C:\Program Files\ipswitch\imacros
to activate the license. This would put the license file in the Installation location.
2) create an executable with the following commandline
"C:\Program Files\ipswitch\imacros\ipsactive.exe" /rrn 1386 /sn <your s.no> /ss
make this executable run on the machine each and every time by calling the exe in Run registry.
3) Have an active setup for the msi and make registry point out to license key as [INSTALLDIR]license.txt
Setup Type: Windows Installer (Delivered as an EXE)
Deployment Method Used: Repackaged (to a setup.msi)