I tried this a few times and did not succeed. My colleague came to me with the correct solution. The key is that you have to run the command prompts with elevated privileges.
Follow these steps and your upgrade from Standard license to Enterprise license will succeed (well…it did in our farm 
):
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Make the Timer account local administrator
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Log on with the Timer account
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Go to Central Administration > Operations > Upgrade and Migration > Enable Enterprise features
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Choose Enterprise (Requires Enterprise client license)
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Enter the Enterprise license key and press Ok
— The upgrade will fail — -
Now open a command prompt (Run as administrator) and execute the following command:
“psconfig –cmd upgrade –inplace b2b –wait –force” -
Go to Central Administration > Operations > Upgrade and Migration > Convert license type
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Enter the Enterprise license key and you will see that the Enterprise license is installed.
Update:
Read more about a requirement in this post.
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