I cannot thank you enough for this guide although it is years later. Just saved a bunch of money on buying a new laptop for an employee.
But I have to add a few lines, just how it worked for me...
1 - when starting the laptop, waiting for the said Logo on Boot and shorting the chip, I had to press F1 straight away to display "Entering Setup..."
2 - after successfully entering the BIOS, one could release the shorting on the chip then follow the "Load Default by F9"
3 - here comes the tricky part, navigate to security / passwords menu (do not short yet!)
4 - select the Supervisor Password option but do not enter, now I had to short the chip again (the menu item changes on screen as soon as shorting applies enabling the supervisor password menu to enter)
5 - while shorting, enter the above menu and reset the supervisor password (although it only worked for me if I left the fields empty - hence no password to set up)
6 - once the password is neutralized press F10 to save and exit BIOS
Voila, worked like a charm! I hope this will help others before dumping a still good enough laptop for work. With an SSD upgrade it took about 20 minutes to set up Windows 10 from scratch.
Thanks again for this original post! Live long and prosper my fellow human beings!