You have a single Test Studio license which you would like to swap between different machines. For instance: you would like to use Test Studio at your workplace and then use it on your home PC without having to purchase an additional license.
Test Studio utilizes a per-machine licensing model. This means your license can be activated multiple times on different machines, but not simultaneously.
To swap a license between multiple machines:
Install Test Studio on each machine.
Activate one of those instances with your license and use it.
When you want to migrate the license to a different machine, deactivate the current instance.
Then activate Test Studio on the other machine.
In Test Studio Standalone version you can deactivate/activate your license from the Manage License sub-menu. You can access this menu from the Help drop down in the upper right corner:
After you click the Manage License button the following window appear. Click on Change License button.
After this you get the option to Deactivate.
In the Visual Studio plugin, the Project Settings menu is accessible from the toolbar as shown in the screen shot below.