Hacking Problems with cfw and crisis core?

[Xarsah16]

Strikes don't happen like you think, and ripping can fail, miserably. I wasn't ever able to get a rip work. And if he can't get the game to run as a UMD then something is probably wrong with the game or his drive. If you own the Game then you are protected to some extent. Doubtful it will get a strike removed from you if it should happen, but honestly they are more worried about Music and Movies then PSP games that are not sold new anywhere any more.

You are not protected.

http://gbatemp.net/threads/piracy-common-myths.344858/

While the authorities may not go after you (because "they have bigger fish to fry") if all you are doing is making backups for yourself, it still matters. They can still take action against you.

When it comes to torrenting a copy or downloading it from some other site, that's when it progresses from slightly illegal to very illegal. It's illegal nonetheless.

It's still good to be careful and to not do anything stupid.

From the thread linked:

I bought the disc/cart/game, so I can do whatever I want with the software on it!
Sadly, false as well. In the majority of cases, what you have bought is a physical object containing the information and a license to use that single copy of the information, which is different from owning the object outright.

Ownership of a “copy” [...] – the tangible embodiment of the “work” – is distinct from the “work” itself – the intangible intellectual property.​

If you purchase a game off the PSN, for instance, you are not actually owning this game. The creators own the game. All you get is the single license and tools to play it.

Please read the thread - it sums it up quite nicely.