short answer, legally:no.
When you have two laptops, you expect both of them to be able to validate their licenses with Microsoft. That won't be possible. Only one of them will be activated at one time.
Personal Use License
Can I transfer the software to another computer or user? You may
transfer the software to another computer that belongs to you. You may
also transfer the software (together with the license) to a computer
owned by someone else if a) you are the first licensed user of the
software and b) the new user agrees to the terms of this agreement. To
make that transfer, you must transfer the original media, the
certificate of authenticity, the product key and the proof of purchase
directly to that other person, without retaining any copies of the