Here I am describing some technical issues which I faced during my work and how I fixed them. I hope this will be helpful for those who may face the same.
If you are using windows, delete the file %ALLUSERS%\Application Data\Adobe\Flex\license.properties and start your flex builder. It will ask you for the key. Give your new key. You are done!
Please go to C:\ProgramData\Adobe\Flex in Windows 7 for license.properties file.
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