Forms and layers of protection
Domain protection comes in many forms and even layers
Client layer protection (client xxx prohibited status). (free)
These options can be activated AND removed by the registrant (is they is implemented) and the reseller but they do provide a base layer of protection. For example the clientTransferProhibited status, this will prevent the domain from being transferred but the status itself can be removed by anyone with access to that domain.
Registrar layer protection (registrar xxx prohibited status). (in most cases a monthly of yearly fee will be charged)
These option can be requested by the registrant but are not applied much, not every registrar offers these statuses because they cannot be seen in a whois output. The layer can only be applied and removed by the registrar. A reseller or registrant does not have access to those update calls.
These registry locks are the ultimate layer of security, in most cases they are set on a domain and or brand level on domain that are not updated much but very important for the company itself. Losing the domain or accidentally making a mistake while updating can be costly very quick. That is why most registries offer these locks to either protect your main production domain and or protect your brand by making sure entire blocks of TLD's are blocked. Depending on the type of brand protection this might mean you will not be able to use the domain but you will be fully protected against most cybersquatting attempts. Two of the best known brand protection blocks will likely be Donuts Registry and Adultblock. Both version block multiple TLD's in one request. Unfortunately the procedure to request, approve and remove RegistryLock does differ per TLD but in most cases we would need a verified contact within the company, this person will be allowed to request updates. Is this person cannot be found publicly on a company excerpt we require the permission of someone that is.
Please note that these RegistryLocks take some time to apply and remove, they are meant for protection not for speed.
For a full explanation of the different status please check the information Icann has provided on this topic: https://www.icann.org/resources/pages/epp-status-codes-2014-06-16-en .