I'm currently using Adobe Photoshop 7.0 with a proper license key. If I update it to the latest version, do I need to purchase a new license key or I will keep using the old one?
you keep the same. this my 1st time using this. i hope it help.
Yes, you will need to purchase a new license if you want to upgrade the software to the latest version. Only the small updates are free of charge. The latest version of the product is Adobe Photoshop 13.0 and you can purchase it from the official web page. Click the Upgrade now button and follow the on-screen instructions. The upgrading price will be around $79.99.