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The instructions with software should tell you which they want you to do. I see that most want you to uninstall first and use the same reg key when you install the upgrade.
Though, I have seen a program or two that tell you to leave the old version on in order to upgrade.
You're probably best off asking the software vendor if you're unsure and the instructions don't tell you (though most will).
However, you're probably safe enough just uninstalling the old and installing the new if you have the key it will ask for.
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