Possibility of resetting my license transfer?

Could I reset my license transfer? I asked this question because I let my friend license transfer CO Ghosts and when I try to launch CO Ghosts, I get prompted with a message saying " Can't launch this game." I have license transfer before I had this message prompted to me. Could it be due to the cause of my friend license transferring, it erased my license from my console? I believe this is not true because he let me download BattleBlock Theater and me and him can still play the game with no problem at all.

I don't think you can do this. Try calling up microsoft and make sure you tell them that the other account is yours as well or you'll get banned.