Your strategy works only if you have a clean copy of the OS or you buy one (since the thread is about Lenovo I assume you are talking about Windows). Typically, a new PC doesn't come anymore with a copy of the OS, but with a hidden recovery partition that will basically let you do a factory reset (meaning all the crap will show up again).
Microsoft itself has provided Windows installation media for download since Windows 8, including Windows 7 media. All you have to do is read your key off BIOS or the sticker.
Unless things have changed, usually the sticker key is only valid for a certain kind of media. E.g. VLK's only work with VLK images, retail keys only work with retail images...
I think you can just extract the OEM Windows key from Windows, download a clean retail .iso of the same version and activate it with the OEM key. I'm pretty sure that worked with Windows 7, no idea about 8+.