A virtual machine (VM) is an operating system that’s emulated within another operating system. You could run Windows within a MacBook as a virtual machine, or even Windows within Windows. Because of this emulation, you might assume that only the OS that’s physically installed on a proper drive is “real” while any emulated OSes are “not real” and therefore don’t require licenses. Well, you’d be wrong. Legally, a virtual machine is considered to be a full-fledged computer—and that means you do need a valid Windows license to run Windows in a virtual machine. You also need the right licenses for …