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Re: Pre-sales question: VMWare Fusion 4 completely on External Drive?

From: VMware Fusion Support Center FAQs > Licensing

 

Can I use a single license on more than one computer / multiple concurrent machines?

You may install and use the Software for personal,  non-commercial use on any Apple-branded products running Mac OS X ("Mac  Computer") that you own or control.

 

If you are a commercial enterprise or educational institution,  you may install and use the Software on a number of Apple-branded  products running Mac OS X ("Mac Computer") that you own or control equal  to the number of licenses purchased. Installing and using the Software  on multiple Mac Computers with a single license is prohibited even if  the computers are not running the Software concurrently.


You can review the End User License Agreement(s) from this page:        www.vmware.com/download/eula/

 

So if you using it commercially you'll need to put the VMware Fusion 4 application on the USB Drive as well or purchase additional licenses.


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