Pendrive Shows Write Protected

Two things to try here. If your pen drive came with a mini cd then load the driver from the cd. If it didn't then try the pen drive on a different pc.

I do not have a Transcend pen drive, but all of my other ones either have a micro switch located on them (sometimes very hard to find) or they need to be formatted from within windows using a tool fom the transcend website below.

http://www.transcendusa.com/Support/DLCenter/index.asp

These are the tech specifications of your pen drive which includes write protection micro S/D switch. So search it and make it read and write
USB 1.1 compliant and 2.0 compatible,
True Plug and Play for hot swap function
Maximum Transfer speed of 1.5MB (12M bit) per second at full speed
Powered directly via the USB port.
No external power or battery needed.
Operating Systems Supported: No driver required for Windows Me/2000/XP, Mac OS 9.0 or later, or Linux kernel 2.4 or later.Only Windows 98SE needs the provided drive
Write-Protect Function: Write-protect switch Security Function: Password protection available via supplied software (Windows environment only) Boot-Up
Function: Makes JetFlash a MS-DOS Boot Disk LED: Flashing LED indicates
Data Traffic Specifications : Size: 75mm X 11mm X 25mm (L x W x H)
Weight: 15g Data Retention: Up to 10 years Shock Resistance: 1000G (maximum) Erase Cycles: 1,000,000 times Speed: Read 9.0 Mbyte/s, Write 8.0 Mbyte/s (Max.) Certificate: FCC, CE,
BSMI System Requirements: Win 98/98SE/ME/2000/XP, Linux Kernel 2.4 and above, Mac OS 8.6 or later