"CorelDRAW X7 failed to start because Psikey-2.dll was not found. Reinstalling the application may fix this problem." Root Causes of the Error in Corel X7
The Protexis Licensing service may simply be turned off in your system configuration. Step-by-Step Solutions to Fix Psikey-2.dll Errors Psikey-2.dll Corel X7
If the file itself is physically deleted or completely corrupted, the most stable solution is a clean reinstallation. "CorelDRAW X7 failed to start because Psikey-2