I have Parallels up and running, but cannot make an internet connection. I have been getting error messages regarding my IP address. It is duplicate to the one being used on my Mac. Do they need to be different? Do I need to change a setting as well on my Mac in terms of network sharing, etc?
Yes, if you are using bridged networking, each running machine (host and guests) needs a unique IP address. If you are using Airport, some DHCP servers treat machines with the same name or MAC address as the same. You should change the MAC address in Parallels setup (change the last digit to something unique on your network) and make sure that the host and guest machine names are different. Post again in the Mac technical forum if you are still having a problem. Note that this problem has been discussed many times and a search would have found this information.
Here's what worked for me. Open the OSx terminal from utilities and enter if config. Note the ether address for en0. Open the Guest configuration editor and edit network adaptor. Select advanced and change the MAC address to the en0 ether address. Apply and save. This is for Guest XP. Good luck.