You can use Custom Actions while creating Vb.Net Deployment Application.Follow these Steps to Add Protection to your Vb.Net Application.
Right Click on your Deployment Application in Solution Explorer->View->User Interface
It will open User Interface Window on left Pane.Then Right Click on Start in Left Pane.
Add Dialog->Customer Information
Go to the Properties of Customer Information And Set Following Properties :
ShowSerialNumber = True
SerialNumberTemplet = ###-%%%-###
And Build Your Project It will create Product Key For your Application : 111-000-111
For More Inforamtion See This link :
http://www.emoreau.com/Entries/Articles/2007/12/Licensing-a-VBNet-application.aspx[
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--MKB :)