I know the feeling...you put a lot of hard work and time into designing the database objects, and you don't want anyone to look at them because they could infer how to do it themselves, and steal/adapt your ideas;

As Gail said, all you can do is slow them down from looking at your code or data; you cna use the WITH ENCRYPTION command when building your procs/views/functions, but the sysadmin on the box can decrypt them with a tiny bit or research or knowledge.

even your .NET DLL's can be reverse engineered and the code can be read...each project,class, function and proc ....even comments.

scary, huh?

A lot of it comes down to trust and professionalism. if you don't trust someone, you'll want to host the database yourself. most professional DBA's and developers don't care about your code, as long as it runs efficiently.