Software security and protection plays an important role in software engineering. Considerable attempts have been made to enhance the security of the computer systems because of various available software piracy and virus attacks. Preventing attacks of software will have a huge influence on economic development. Thus, it is very vital to develop approaches that protect software from threats. There are various threats such as piracy, reverse engineering, tampering etc., exploits critical and poorly protected software. Thus, thorough threat analysis and new software protection schemes, needed to protect software from analysis and tampering attacks becomes very necessary. Various techniques are available in the literature for software protection from various attacks. This paper analyses the various techniques available in the literature for software protection. The functionalities and the characteristic features are various software protection techniques have been analyzed in this paper. The main goal of this paper is to analyze the existing software protection techniques and develop an efficient approach which would overcome the drawbacks of the existing techniques.