When you start a program from the desktop, the menu, a shortcut, or from a file association, you will receive one of the following messages if the application is located in \Program Files and the path is not enclosed in double quotes in either the shortcut or the registry:

Access to the specified device, path or file is denied.
Access to the driver, specified path, or file is denied.

This can also happen if you have a \Program folder on the same drive as \Program Files

Right click the shortcut and enclose the Target in double quotes.

Use regedit to search the registry for a data string equal to the Target and enclose it in quotes.