How to protect/obfuscate AutoCode/Source code while sharing with third party?

My intention is to protect/obfuscate AutoCode/Source code while sharing with third party so that they can just use it but I do not want to share implementation.

I tried below options

1) created protected model, with content type as "Readable Source code" and generated auto code from it.

and

2)created protected model, with content type as "Obfuscated Source code" and generated auto code from it.

In both auto codes, generated .c files, logic is not present since it is generated from protected model, only difference in obfuscated code is names of functions are obfuscated(encrypted).

so basically, I have two questions,

1. if we generate auto code using obfuscated then in which file our logic will be present, as per my understanding this code is compiled one but if I want to share with third part then what are all files, I should share with them so taht they can use it but cannot see implementation
2. Is it possible to protect/obfuscate handwritten c code also using Matlab?