I ended up with a 3ds Max Design case awhile ago, where Composite gave this error at startup:

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Autodesk Toxik - Fatal Error
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Cannot check out license for "Network License: Autodesk Toxik 2011" from c:\flexlm\maya.lic.

The product key was not found.
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OK   
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Usually the solution to this kind of error is to set the ADSK_COMPOSITE_LICENSE environment variable to 3DSMAX (or SOFTIMAGE or MAYA), but that didn’t work. Eventually I tried “3DSMAXDESIGN” and of course, that was it 😉 Nobody ever never mentioned that possible value, so I assumed 3DSMAX applied to both 3ds Max and 3ds Max Design.