Copyright and Fair Use
Copyright is a bundle of rights. The rights defined in copyright law are exclusive rights of the copyright holder – the author or creator. These include the rights to reproduce, to distribute, to prepare derivative works, to perform or display the work, or to authorize others to do any of those things.
These rights are alienable – meaning you can give them away or sell them giving away or selling others. You may grant licenses for these rights – which can be exclusive (meaning just the one person or entity you define may use the right or rights) or nonexclusive (meaning that anyone or any entity may use the right or rights). These rights are also divisible – meaning you can retain some rights while giving away or selling other rights.