Taken from the Creativecommons.org website:
What our licenses do
The Creative Commons copyright licenses and tools forge a balance inside the traditional “all rights reserved” setting that copyright law creates. Our tools give everyone from individual creators to large companies and institutions a simple, standardized way to grant copyright permissions to their creative work. The combination of our tools and our users is a vast and growing digital commons, a pool of content that can be copied, distributed, edited, remixed, and built upon, all within the boundaries of copyright law.
How do CC licenses operate?
CC licenses take effect and are operative only when applied to a work in which a copyright exists, and even then only when a particular use of the work is prohibited by copyright. This means that CC license terms and conditions are not triggered by a use permitted under any applicable exceptions and limitations to copyright, nor do license terms and conditions apply to elements of a licensed work that are in the public domain. This also means that CC licenses do not contractually impose restrictions on uses of a work where there is no underlying copyright. This feature (and others) distinguish CC licenses from some other open licenses like the ODbL and ODC-BY, both of which are intended to impose contractual conditions and restrictions on the reuse of databases in jurisdictions where there is no underlying copyright or sui generis database right.
All CC licenses are non-exclusive -- creators and owners can enter into additional, different licensing arrangements for the same work at any time, a practice known as dual-licensing. Note, however, that once granted, CC licenses are not revocable in the absence of a breach, and even then the license is terminated only as to the particular licensee.
License design and rationale
All Creative Commons licenses have many important features in common. Every license helps creators — we call them licensors if they use our tools — retain copyright while allowing others to copy, distribute, and make some uses of their work — at least non-commercially. Every Creative Commons license also ensures licensors get the credit for their work they deserve. Every Creative Commons license works around the world and lasts as long as applicable copyright lasts (because they are built on copyright). These common features serve as the baseline, on top of which licensors can choose to grant additional permissions when deciding how they want their work to be used.
A Creative Commons licensor answers a few simple questions on the path to choosing a license — first, do I want to allow commercial use or not, and then second, do I want to allow derivative works or not? If a licensor decides to allow derivative works, she may also choose to require that anyone who uses the work — we call them licensees — to make that new work available under the same license terms. We call this idea “ShareAlike” and it is one of the mechanisms that (if chosen) helps the digital commons grow over time. ShareAlike is inspired by the GNU General Public License, used by many free and open source software projects.
Searching for open content is an important function enabled by our approach. You can use Googleto search for Creative Commons content, look for pictures at Flickr, albums at Jamendo, and general media at spinxpress. The Wikimedia Commons, the multimedia repository of Wikipedia, is a core user of our licenses as well.
The Licenses
Attribution
CC BY
CC BY
This license lets others distribute, remix, tweak, and build upon your work, even commercially, as long as they credit you for the original creation. This is the most accommodating of licenses offered. Recommended for maximum dissemination and use of licensed materials.
Attribution-ShareAlike
CC BY-SA
CC BY-SA
This license lets others remix, tweak, and build upon your work even for commercial purposes, as long as they credit you and license their new creations under the identical terms. This license is often compared to “copyleft” free and open source software licenses. All new works based on yours will carry the same license, so any derivatives will also allow commercial use. This is the license used by Wikipedia, and is recommended for materials that would benefit from incorporating content from Wikipedia and similarly licensed projects.
Attribution-NoDerivs
CC BY-ND
CC BY-ND
This license allows for redistribution, commercial and non-commercial, as long as it is passed along unchanged and in whole, with credit to you.
Attribution-NonCommercial
CC BY-NC
CC BY-NC
This license lets others remix, tweak, and build upon your work non-commercially, and although their new works must also acknowledge you and be non-commercial, they don’t have to license their derivative works on the same terms.
Attribution-NonCommercial-ShareAlike
CC BY-NC-SA
CC BY-NC-SA
This license lets others remix, tweak, and build upon your work non-commercially, as long as they credit you and license their new creations under the identical terms.
Attribution-NonCommercial-NoDerivs
CC BY-NC-ND
CC BY-NC-ND
This license is the most restrictive of our six main licenses, only allowing others to download your works and share them with others as long as they credit you, but they can’t change them in any way or use them commercially.
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