Welcome to the Forum. It sounds as though this 'protectiveness' has been going on a long time. I agree that probably it would be best to get help from a behaviorist but make sure that they have experience of Basenjis. In the meantime keep him away from your guests. It's possible that he's stirred up by the excitement so it's best to try to keep him calm when people are around.
@tahj1024:
I have found links the the Basenji Club of America and a list of breeders. The closest one is about 4 hours away. I do see a number with a local area code listed as a rescue resource so I think I will give him a call to see if I can see some and spend a little time with a few. I really would like to raise a puppy but I would be open to getting one that is a year or 2 if I find the right one.
Wonderful news!!!!