Cubase Elements runs using what’s called a “Soft-eLicenser”, which is basically disk-based copy protection. It works fine on laptops and that’s what I use it for. Personally I think it represents excellent value for money but bear in mind there’s no List Editor for MIDI, if very detailed MIDI editing is important for you.
IMHO nothing comes close to Cubase for MIDI. Having tried Elements, check out the key, drum and score editors, the chord pads, read up on the Logical Editor in Artist and Pro which also have the List Editor and MIDI plugins, which are great. There’s an awful lot you do already with Elements, and if you later decide to upgrade, it will only cost the difference in price + the USB eLicenser, which is a once-off cost.
Depending on the type of laptop you have, you might be able to build the USB-eLicenser into it, if there’s a free Mini-PCIe port inside with room for an adapter.