The portable edition does not conflict with a permanently installed PowerGREP.
PowerGREP stores license information in the Registry. To make it portable, you need to export that license key. Use the following method:
Select the command to to clone the software and your current settings onto a USB drive. Via Command Line (Licensed Installer): Use the licensed installer with the /portable parameter. Example: SetupPowerGREP.exe /silent /portable D:\PowerGREP .