How to change Hyper-V host licences from trial to standard

I have been running my Hyper-V Host server on a trial version of server software  and now  has expired .
I have a software with a valid license .
Do I need to back up the VM's Wipe out the server and reinstall Server 2012 ? or is there some way to simply use the new license ?
Andre PAsked:
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David Johnson, CDRetiredCommented:
DISM /online /Set-Edition:ServerStandard /ProductKey:XXXXX-XXXXX-XXXXX-XXXXX-XXXXX /AcceptEula

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