Apple doesn't do any dippy Product Activation, at least not yet. But one retail copy should be running on only one computer at a time. If you violate this, Steve Jobs will wag his finger at you through the Internet!
Apple's "Family Pack" is a very good deal, and I've bought it ever since our household gained multiple Macs. Single retail copies of Apple OS's tend to go for $129, while the Family 5-pack (meant for only computers in the same household) is $199. It's like getting the second license for half price, and the rest (up to five) free...
You get the pleasure of knowing your software is legal, and Apple makes an extra $70 by simply putting a license addendum sheet in the box (Seriously, that and the sticker on the box is the only difference between the single retail copy and the Family Pack!)