I found the reason to this problem; it's a file that was installed in my computer when installing Ulead, its the same file name that came on the error message. Do you think if I deleted it, it would cause any damages to the program?
It's called uvPL, and it's found in the videostudio folder.
Your first step should be to run the installation program again and this time it will include a repair option.
If that fails then your second step is to do a clean re-installation as per Our re-installation procedure