The best way to protect the reports is to include them in the EXE instead of distributing them with the app.
In VFP 9, there are some new protection options that allow you to mark certain things as unchangeable. However, this only takes affect if the user is trying to modify a report using the new PROTECTED keyword. In other words, if the user has their own copy of FoxPro, you can't protect them because they can get around the settings.
So .. you're back to including them in the EXE.