I recently installed Parallels Desktop 4 to a friends computer.
The installation of a virtual Windows XP went smoothly.
I was prompted for the key during the setup of the virtual machine and that was it.
The next thing I needed was a way to right click.

You should be able to use:

CTRL-CLICK
or
SHIFT-CTRL-CLICK

Related

• http://forum.parallels.com/showthread.php?t=1802
• http://forums.macrumors.com/showthread.php?t=202169
• http://www.parallels.com/products/desktop/pd4wl/
• http://www.parallels.com/products/desktop/

Other Searches: Can't right-click in Parallels Desktop, CTRL-Click not working in Parallels Desktop