The FMI standard does not specify anything related to IP protection, however "Standalone" FMU exports get some degree of IP protection.
Standalone FMU:
Since Simulink Compiler uses the Simulink Coder infrastructure, FMU Export gets some level of IP protection:
- Compiled binaries: the original Simulink model/source code are compiled into binary form (user cannot recover original Simulink model)
- Obfuscated symbols: C function and global variable names are obfuscated after code generation (user cannot recover meaningful source code function/symbol names)
What FMU export does not have:
- Obfuscated constants (user cannot recover meaningful string literals and numerical constants)
- Additional encryption of dynamic library file (user cannot recover original memory layout)
- Password protection for FMU zip package (user cannot decrypt FMU without password)
Tool-Coupling FMU:
There is no level of IP protection.
Other approaches to protect IP of your Simulink model that do not involve FMUs are mentioned in the following MATLAB Answers post: