A KEY file contains a license key for an application to register itself. It may be plaintext or encrypted to authenticate the software purchase. The generic .key extension registers legal copies of software. Developers distribute KEY files to users after purchase to register applications offline. Users may place the file in a directory or open it with the app. Windows apps primarily use KEY files, but other operating systems may too.
The licensekey file extension associates with iPartition for Apple Mac OS X. It stores user and license key information to activate iPartition. The files serve internal purposes for the iPartition program. The format likely can’t convert to other file types. Proprietary or closed formats often don’t convert to protect developer intellectual property, like DRM-protected media.