Went ahead, and did some further research on this. I did this for USA Copy Right Laws/Permissions
Some people, and topic's have been saying that the overall legitality of copying games with "fair use rights" is in the greyish area depending on the following.
1. How you got it
2. Where you got it
3. What did you use it for, and who did you share it with, that type of stuff
With legitality in mind this would be a good example of something that would probably give you a small punishment (Like community service, or have a notice sent to your house, or a fee.)
1. Using a clean rip/burner device
2. Bought physical copy of the disc from EBay
3. Used it for emulation. Did not use it for anything else
This would be probably one of the most legitimate circumstances of it being okay to copy the game/CD, etc... If you want to go an even more legit way you could ask the owner of the game for permission to copy it on your PC/USB Device. But doing so may take a long time, and be time consuming (and frustrating.) So it's just best off to copy it onto your PC.
As long as you don't copy it multiple times for multiple devices (Ex, one for IPhone, one for PC.) Then it's completely fine. (Mentioning useage being able to watch a movie on your IPhone, and PC at the same time. Having it stored however may be okay.)
A bad example would be getting a game, or movie off of the Internet. Which leads to piracy in US even if you own a copy. Downloading games & movies off the Internet will result in heavy fines you have to pay (1.5k USD - 500k USD.) Leading towards more issues along side.
So it's really just all based off of judgement, and law in your area. Granite we have morals but over all it should all be taken seriously, and not be taken as a joke. (Or else the FBI will be knocking at your door.)