Game Installation Limitations

If I wanted to play GW with my wife would I have to buy two GWs. Is it possible for me to install my copy on a laptop and she loggin on that laptop under MY ACCOUNT, while I am on the desktop logged in under MY ACCOUNT, and we play together as two different characters on that same Account?

Or can the same installation (Product Key) be used to produce two separated loggins that we can each play on?

if ur plaing on ur account on ur pc and shes gonna log on ur account on a laptop or another pc, it will automatically log off the person that is currently logged on.
u can only be logged on from one pc at one time.

Essentially, one activation key = one account, and one account = one player at a time. If you want to play together you'll have to buy another activation key.

Thank you for your help gentelmen.