The described embodiments relate generally to methods, systems and security devices for authorizing use of a software tool. Certain embodiments of the invention relate to a security device. The security device comprises at least one communication subsystem for enabling communication between the security device and a first external device, wherein the first external device has a software tool executable on the first external device. The security device further comprises a memory and processor coupled to the at least one communication subsystem and configured to control the at least one communication subsystem. The memory is accessible to the processor and stores a key for authorizing use of the software tool. The memory further stores program instructions which, when executed by the processor, cause the processor to execute a security application.