I don't think you can do that. Encryption is possible but protecting it from being reformatted is something i have never heard before. Maybe you can try changing the write permission for the flash drive.
jingda
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if in a worse case ,some formatted it and passed it back to you ,it would still be possible to retrieve the files using a program like recura .if your drive has really important file on it you shouldn't be lending it anyway ,also if if the files are really important they should be backedup on dvd's ,also thumb drives are so cheap now just buy one for lending ,unrelated but i own about 7 of them
http://www.piriform.com/recuva/download
caperjack
I hate 20 Questions
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In a Nutshell: You can't protect flash drive from being formatted by other people;)
jingda
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