Skyrim Steam Product Key
The likelihood of this also applying to Lego The Hobbit is high. The "View CD Key" option was for much older games that authenticate through their own system (like Games for Windows Live, GameSpy, and so forth). Most games nowadays simply go with Steam's own authentication and once you activate a product, you can't "take it off your account and give it away."
skyrim steam product key
Here is how register your product keys to Steam. Hopefully this information will help so you can get right to playing your game. If you do not have a Steam account or have Steam client installed you can: