Hi everyone,
I've ended up with 2 copies of Premiere Pro CS5.

I bought the first stand alone copy within days of it coming out for $700-$800 from Amazon.com. Now I've bought CS5 Production Premium to get After Effects and Soundbooth, which includes PPCS5. The cheapest way to get this was to buy an upgrade from CS2 which I don't think was available at the time, or I just didn't see it.

Am I allowed to resell the first copy? If so, what would be the best way? Be nice to get some $ back and invest this in a Zoom H2 or similar.

Any advice is greatly appreciated, thank you.

Regards,
Doug.

Yes, you can legally transfer the license to another person. Here's the Adobe info on that process:
Transfer an Adobe product license (http://kb2.adobe.com/cps/152/tn_15281.html)

EDIT: Here also is the link to the PPro CS5 EULA:
http://www.adobe.com/products/eulas/pdfs/gen_wwcombined_20091001_1604.pdf

You can keyword "transfer" and you'll find the verbiage in Section 4.6 of the EULA.

Hi Pete,
Thanks a ton for your response, this is very helpful.

Regards,
Doug.