Microsoft Volume Licensing has released a document describing the licensing of Microsoft Server Products in virtual environments. As stated in the document:
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The purpose of this white paper is to give an overview of Microsoft® licensing models for the server operating system and server applications under virtual environments. It can help you understand how to use Microsoft server products with virtualization technologies, such as Microsoft Hyper-V™ technology, Microsoft® Virtual Server 2005 R2, or third-party virtualization solutions provided by VMWare and Parallels.
Although much of the information in this white paper also applies to licenses purchased from channels other than Microsoft Volume Licensing, some differences exist. As a result, we recommend that you review the license terms that accompanied your software if you acquired licenses through a means other than a Microsoft Volume Licensing agreement."
Licensing Microsoft Server Products in Virtual Environments
This document replaces the “Licensing Microsoft Server Products with Virtual Machine Technologies” documents—White Paper and Brief published in October 2006.
Thanks to Edie