Hi Woyler,
A preferred way to register IvyPdf is by using IvyTemplateEditor.exe (Help/About/Apply License Code). Once it's registered on the machine it should work from anywhere.
SetLicense() method should work as well (it only needs to be done once), but please make sure there's file "ProtectIt.CryptoLicensing.dll" available in the project path.
Ivy also generates a demo key on the first run, so if it's your first try you don't need to do anything - it will work for 30 days.
Please let me know if you are still having this issue or have any other questions.
Thank you,
Andrew - IvyTools support