Office 2010 License Verification Fix
Through some thorough researching; I found out the fastest way to fix the error, "Microsoft Office <insert edition here> 2010 cannot verify the license for this product. You should repair the Office program by using Control Panel.".
Re-arming the Office 2010 installation resets the licensing information in order for activation with the new key to occur.
From an elevated command prompt, run the following:
cd "%systemdrive%\Program Files\Common Files\MicrosoftShared\OfficeSoftwareProtectionPlatform"
Alternate - 32-bit version installed on 64-bit OS:
cd "%systemdrive%\Program Files (x86\Common Files\MicrosoftShared\OfficeSoftwareProtectionPlatform"