Since you're on here, I presume that your email address is the one on record with vBulletin (over on members.vbulletin.com, where you enter your domain and download vBulletin).
Go back to the members area on vBulletin.com, and add your friend's email address to your license:
http://members.vbulletin.com/membersupport_priority.php While you're there, be sure vBulletin.org is checkmarked as a site that's allowed to verify your license. It's the second site down on the list.
When you've done that, have your friend come here to vBulletin.org and register as a new account. When he gets the activation email, he needs to click the link within it. vBulletin.org will then check his email address against the authorized users list, which may take an hour or so.