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Excellent answers Paul and Andrew. That really helps. &nbsp;However, &nbsp;I have a quick question. When I do the Windows SysPrep - &nbsp;will &nbsp;OOBE (enabling Generalize) and Reboot do OR use the specific SysPrep command available for Windows 2012 R2. &nbsp;Let me know if that is another new question.
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It's the same run sysprep in the is and select an option
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The one you are looking for is located at c:\windows\system32\syspre<wbr />p\sysprep.<wbr />exe<br />
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<a href="https://filedb.experts-exchange.com/incoming/2017/04_w16/1157525/sysprep.png" target="_blank" title="sysprep (4 KB)"><img alt="sysprep" class="file-block lazyload" style="max-width: 308px;" data-src="https://filedb.experts-exchange.com/incoming/2017/04_w16/1157525/sysprep.png" /></a><br />
You will perform the OOBE, Generalize and Reboot options.
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sysprep.png

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I want to create a similar VM in a production environment running Windows Server 2012 R2 &nbsp;(without shutting down the VM). But at the same time &nbsp;ensure the &nbsp;GUID, Windows License, SID, etc. is different in both the machines. I do understand P2V or V2V is not a Clone &nbsp;but a conversion. &nbsp;The new VM to be used as a production server and NOT for testing. <br />
<br />
1. If I clone, will both the &nbsp;VMs have same &nbsp;GUID, Windows License, SID?<br />
2. If I do a V2V (using converter &nbsp; will both the VMs have same GUID, Windows License, SID?<br />
3. Any other option to ensure both the VMs have Different &nbsp;GUID, Windows License, SID. <br />
<br />
Thank you Experts.
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I want to create a similar VM in a production environment running Windows Server 2012 R2  (without shutting down the VM). But at the same time  ensure the  GUID, Windows License, SID, etc. is different in both the machines. I do understand P2V or V2V is not a Clone  but a conversion.  The new VM to be used as a production server and NOT for testing. 

1. If I clone, will both the  VMs have same  GUID, Windows License, SID?
2. If I do a V2V (using converter   will both the VMs have same GUID, Windows License, SID?
3. Any other option to ensure both the VMs have Different  GUID, Windows License, SID. 

Thank you Experts.

V2V conversion or Clone in vCenter vSphere 6.x

VMware, a software company founded in 1998,  was one of the first commercially successful companies to offer x86 virtualization. The storage company EMC purchased VMware in 1994. Dell Technologies acquired EMC in 2016. VMware’s parent company is now Dell Technologies.

VMware has many software products that run on desktops, Microsoft Windows, Linux, and macOS, which allows the virtualizing of the x86 architecture.  Its enterprise software hypervisor for servers, VMware vSphere Hypervisor (ESXi), is a bare-metal hypervisor that runs directly on the server hardware and does not require an additional underlying operating system.