How to resolve “Virtual PC has detected an invalid or missing Product ID”

I’ve just installed Virtual PC 2007 on my work laptop (which runs Windows XP), and when I tried to start it, I got the following error:

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Virtual PC
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Virtual PC has detected an invalid or missing Product ID.

A valid Product ID is required to operate Virtual PC. Please
re-run the Virtual PC installer and enter a valid Product ID when
requested.
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OK
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The solution is basically as described here, except I had to create the registry keys and values as they were missing on my machine.

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