and to answer your question, on the bottom of the laptop sometimes under the battery is what is called a COA sticker it should have your windows product key written on it, and so long as you are just reinstalling the same version of windows 7 as the one that originally came on the PC it should not be a problem.
COA sticker should look something like this:
My Computer
At a glance
Windows 7 enterprise 64 bit, Windows 7 Pro 64...Core i5-2400, Athlon 64 X2 6400+ ,Core i7-3632QM4GB, 4gb g.skill ddr2, 8gbRadeon HD 4550 sgb, Radeon HD 4870, NVIDIA Ge...
Computer Manufacturer/Model Number
Lenovo ThinkCenter, Custom Built PC, Acer Aspire V3-771G-9809
OS
Windows 7 enterprise 64 bit, Windows 7 Pro 64 bit ,Windows 8 64bit
CPU
Core i5-2400, Athlon 64 X2 6400+ ,Core i7-3632QM
Motherboard
ASUS M4A79 Deluxe
Memory
4GB, 4gb g.skill ddr2, 8gb
Graphics Card(s)
Radeon HD 4550 sgb, Radeon HD 4870, NVIDIA Geforce GT 650m
Monitor(s) Displays
dual samsung 22" monitors
Hard Drives
500GB, Western Digital WD Blue WD6400AAKS 640GB 7200 RPM 16MB Cache SATA 3.0Gb/s, 1TB
Case
Antec Twelve Hundred V3 Black Steel ATX Full Tower
When you say "original disc" are you talking about the one that came with the pc ? If yes, then you can use it and it should, I say should, auto activate it.
My Computer
At a glance
Windows 10 Pro x64Intel Core i7 6700KGSkill TridentZ RGB 16GB 3600 16-16-16-36EVGA GTX 980 Ti SC x2
I have a label on bottom of laptop but it isn't completely readable. I don't have an original disk...just thought I did..I was told they don't give you them anymore....why is that? I don't think $150 for new one is fair
No, you don` have to pay for a new disc, you can download and burn it yourself, but you need your key to activate it, try harder to read it. Come on man
My Computer
At a glance
Windows 10 Pro x64Intel Core i7 6700KGSkill TridentZ RGB 16GB 3600 16-16-16-36EVGA GTX 980 Ti SC x2
You own the OS which came with the laptop for it's life, to reinstall as often and in any way you want. But you need to be able to read the Product Key, so use a magnifying glass and decipher it now. If you're missing some digits MS Phone Activation sometimes can determine its authenticity other ways to activate it for you.
Even if you Clean Reinstall I would follow Wolfgang's advice below to save a Win7 or Macrium backup image externally so that you have another option in case you cannot get it activated due to unreadable COA.
If you cannot read the COA sticker, then you will have problems. In that case I suggest you make an image of your current system and transfer that to the new HDD. That is a safe way to do it.