ChemDraw: While installing/Activating Chemdraw/ChemOffice I get the error, "The application was unable to start correctly (0xc000007b)"

While installing/activating ChemDraw, the following error pops up, "Application was unable to start correctly (0xc000007b)".

Solution: Uninstall and then re-install ChemDraw on the default location.

Note: The above extraction path has the admin user's name blocked out.