Two most easy way to resolve this problem..................
1:-

First try holding F8 key while you start CorelDRAW, and bring it to factory default
2:-Protexis_licensing_service_V2 service not installed,to install follow these instruction.

Known file sizes on Windows 10/8/7/XP are 189,728 bytes (40% of all occurrences), 185,632 bytes and 8 more variants. It is a service, and the service name is PSISVC2. This service provides Protexis licensing functionalty. The program has no visible window. This service runs as the SYSTEM account with extensive privileges on the local computer, and acts as the computer on the network. Protexis Licensing V2 runs as a program that can be started by the Service Controller and that obeys the service control protocol. This type of service runs in a process by itself. PSIService.exe by Protexis, which installs a Protexis Licensing service or Protexis Licensing V2, apparently it's a spyware for CNET. It adds a background controller service that is set to automatically run. Delaying the start of this service is possible through the service manager. Mar 04, 2010 If you have licensed products using this service you should be careful and keep backups of all values/files. These instructions are valid for Windows 7 64-bit but just remove “Wow6432Node” for 32 bit systems: Stop “Protexis Licensing V2”-service and the application you are evaluating.

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Protexis Licensing V2 Download

CorelDRAW: Product installation unsuccessful, please reinstall (Error 38).
Its been about 2 months since I have been using x4 and today I got the above error. You guys are also getting the following error message when you installed corel x4 right?? Well it was really simple though. actually nothing has to be installed when you get that error. I reinstalled many times but did not help. And finally something came into my mind. A service that I disabled today. '

Protexis Licensing V2 Service Windows 7

Protexis Licensing V2 service'

What Is Protexis Licensing V2

1. All you need to do is enable that service before opening coreldraw. All you have to do is START>;RUN>;services.msc OR
2. Right click My computer; select manage ; in the tree view, select services and applications, then expand hirachy select services
   
3. find the name with Protexis Licensing V2 and start that service. Change to automatic.
4. Thats all now you are done. No more installation error.
5. Reboot

OR
You can start the service right away.
1. Do up to point 3 above and follow this screenshot below: