How does licence work and how many needed.

How does licensing work? If we purchase a copy, can it be installed on both a Desktop and a laptop or do I need two licenses?

How long is the license good for. One Year or the live of the software. And is it good for all upgrades. Being a miner upgrade or upgrade to a new full version. Such as from version 2.xx to 3.xx

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Please see https://www.stardock.com/support/software_eula.aspx for Stardock's standard EULA 
You will need to purchase a license for each machine.

It's ggod for all minor versions.  You would need to pay to upgrade (if you wanted those features).  There might be a discount for upgradings