Error "75 - Path/File access error. The Paper Tiger encountered a serious problem. Current build is 4.1.25. The error occurred in Form=Global at Procedure = SetupDataPath."

Resolution to fix this error:

Make sure Paper Tiger application is closed.

Go to My Computer > C:\ > Documents and Settings > YOURUSER 

Ex. Path: C:\Documents and Settings\Administrator\ 

Then go to Tools > Folder Options > View 

Select "Show hidden files and folders" 

Now you should see a folder called Application Data 

Ex. Path: C:\Documents and Settings\Administrator\Application Data 

Within that, there is a folder called PaperTigerApplicationData. Again, make sure PT is closed and delete the folder called PaperTigerApplicationData. Now re-launch Paper Tiger and the error should be fixed.