There will be one of the following
some way of creating a set off restore disks on the laptop
or
A recovery partition on the hard drive that would enable you to take the laptop back to factory settings.
check the documentation that came with the laptop to see which you have. if it's the first option then make sure you create the disks ASAP because if you have a problem with the laptop and you've not created the disks you are stuck (and the guarantee won't help in that situation)
And it is possible to buy a 3 user license of windows7, but the version that comes pre-installed on a laptop will only be a single user license.