You need 1 license key for each your PC. We don't allow to activate several PCs with 1 license key because it's not possible to check real PC owner.
You can run many uTorrent instances on 1 PC. I'll show you:

Both folders must have uTorrent.exe (TorrentRatioKeeper works only with uTorrent.exe). You need to create shortcuts for these executables, then right click it and select Properties. You need to add parameter /RECOVER to both shortcut to make 2 or more uTorrent instances work:

That's it. Now you can run as many uTorrents as you need same time:
