I try to install ubuntu 14.10 on my new laptop, dell precision m3800 but when I try to install from live usb I get the following error:
Anybody has idea how to fix it without losing the data I have on the windows partition?
it's telling you whats worng, create a parition that has the size like 200 MB and has the name "Reserved BIOS boot area" and it will work.
You don't have to partition it manually, you can use the option in the first menu "to install along side Windows" instead.