title: Protecting Code in an Excel Workbook?
body: <p>I want to produce an Excel workbook that will contain proprietary formulas and other intellectual property. I will most likely produce this workbook in Visual Studio 2010 with C#.</p>
  
  <p>How protected is the code within these projects? Do the same problems with reflection in C# still apply to these workbook projects? If so, are there obfuscation tools specifically for these types of workbooks?</p>
  
  <p>To add to this question - what about good 'ole VBA? Is there a way to protect that code too if we were to go the VBA route?</p>