If you’ve stumbled upon a file named PSIService.exe , Protexis Licensing V2 , or attempted to download a driver for it, you’re likely dealing with a piece of software that has puzzled PC users for over a decade. Here is everything you need to know. What Is Protexis Licensing v2? Protexis Licensing v2 is not malware, a virus, or a standalone application you install for fun. It is a Digital Rights Management (DRM) and license validation service developed by a company called Protexis (later acquired by Flexera Software).