Accounts and product keys

Hello,

Newbie here so thank you for taking the time out and reading my message.

I have a product key for 3-users. I would like to set up an account for each user. Am I able to do so with only one product key? Currently, I have an account for all users in my office but I would rather each employee have their own account. I don't know if this is possible.

Thank you for your time!

Sincerely,

Nancy