For this "limited" time, Copyright law essentially grants the author the exclusive rights to copy or reproduce the work, make derivative works, distribute copies of the work (sell, give away, lease or license), and to perform the work, and, of course, to keep others from doing the same.
Simple enough? Not hardly.
....A number of years ago, the U.S. Supreme Court dealt with a man named Dowling, who sold "pirated" Elvis Presley recordings, and was prosecuted for the Interstate Transportation of Stolen Property. The Supremes did not condone his actions, but did make it clear that it was not "theft" — but technically "infringement" of the copyright of the Presley estate, and therefore copyright law, and not anti-theft statutes, had to be invoked.
So "copying" is not "stealing" but can be "infringing."
....copying is not always infringing. If the work is not copyrighted, if you have a license to make the copy, or if the work is in the public domain, you can copy at will. Also, not all "copies" are the same. Say you buy a CD and play it on your computer — technically, you have already made a "copy" onto the PC in the process of playing it, but that's not an infringement.
Making an archive copy is okay too, as long as your retain the original. What about a transformative copy — say, making an MP3 out of a CD? You can do that, so long as you retain the original work. If the original CD get scratched, damaged or lost, you can probably burn the MP3 back to a CD (sans the really "sucky" titles), but this is not entirely clear.
.... if you make copies for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research, it is not an infringement of the copyright, even if the copyright holder does not want you to do so.
This isn't black and white, of course. In deciding whether a use is fair or not, courts will consider a number of factors: Did you make the copies for commercial purposes? Does the copy deprive the copyright holder of revenues? Did you copy all, or substantially all, of the work, or just a small portion? The less of the work copied, the less commercial and the less impact on the copyrighted work, the more likely it is to be considered "fair."
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