Here's a suggestion, right click on the binary or if this is a large program, the whole folder. Then, assuming that you selected the folder...
Right click on the folder and select properties.
Then click on the security tab (if you don't see it, skip to the bottom - then come back here).
You should see a title 'Group or user names:' - click on the add button below to add a user. Enter the user name of the limited account (or use everyone so everyone can use it).
Once you enter the username, click on the 'Check Names' button on the right. This will make sure you entered a proper username and put it in the correct way. Then click OK.
Now the window should have closed and you'll be looking back at the properties window on the security tab. Now you can grant specific abilities to the user. You might need to allow the user full control depending on the software... if it needs to modify any of it's files during run time.
Make sure that you click on the advanced button and makee the permission settings propogate to the sub folders and files contained within.
[edit] I forgot to add this...
To see the security tab, open up My Computer (or windows explorer) - then click TOOLS -> Folder Options. Then click on the view tab. Scroll to the bottom of the list presented to you and uncheck 'Use Simple File Sharing'
Make sure you remove the checkmark.
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Hope this helps