The Technology, Education, and Copyright Harmonization (TEACH) Act of 2002 creates some exceptions for instructors at nonprofit educational institutions.
Under the TEACH Act, you may
Under the TEACH Act, you may NOT
If you use materials under the TEACH Act, you MUST
The First Sale Doctrine states that if you purchase a copy of a copyrighted work, you have the right to lend or sell it as you see fit. This is what allows students to re-sell their used books and libraries to lend their books out.
The Libraries and Archives Exemption enables libraries to provide interlibrary loan, make archival copies for preservation purposes, and move copyrighted works in obsolete formats to current media. (Note that VHS is not yet considered obsolete.)