Hello Laura H ,

If you have a subscription, then you activate this by selecting the following (after starting Studio)

You do not need an activation code as Studio is activated via the cloud subscription.

Hello Laura H ,

If you have a subscription, then you activate this by selecting the following (after starting Studio)

You do not need an activation code as Studio is activated via the cloud subscription.

Perfect, thanks a million! Wish this were more self-explanatory...

Hello Laura H ,

I agree that this isn't necessarily as clear or obvious as it could be. 

I think you might find these Wiki articles useful as when creating locla/cloud projects etc

https://community.sdl.com/product-groups/translationproductivity/w/customer-experience/5467/sdl-trados-studio-2021-trados-live