How to resolve the error 'Unable to validate MI Pro license due to error - 76' - MapInfo Pro, MapInfo Professional

Products Affected: MapInfo Pro, MapInfo Professional

Issue

When trying to activate MapInfo Pro ® or MapInfo Professional® the following error appears:

Unable to validate MI Pro license due to error - 76

Cause

The error is caused by the FLEXNet service.

Resolution

UPDATED: December 3, 2019
To resolve this error, please follow the steps below:

1) Make sure the FlexNet Licensing Service (FNPLicensingService.exe) 32 bit or FlexNet Licensing Service 64 (FNPLicensingService64.exe) 64 bit process is running in Task Manager. 
2) Go to c:\program data\FLEXNET folder and delete any files that start with unisw20. 
3) Reopen MapInfo Pro and activate when prompted. If you are not able to activate, please contact the client service team for assistance (clientservice-pbs@pb.com)