A computer-implemented client-side method for protecting enterprise rights management keys from being compromised by untrusted client devices may comprise: 1) detecting a request on a client device to access protected data, 2) dynamically instantiating a processor-based secure virtual machine on the client device, 3) establishing a secure communication channel between the secure virtual machine and a policy server, 4) receiving, via the secure communication channel, a content key from the policy server, and then 5) decrypting, using the content key, the protected data using the secure virtual machine. Server-side methods, along with corresponding systems and computer-readable media, are also disclosed.