Intellectual Property (IP) is defined by the World Office on Intellectual Property (WIPO) as:
"creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce."
Licenses are used to grant authorized use for IP items. For example, whenever you agree to the Terms and Conditions in order to use software or read a website, you are entering into a license agreement. After you agree to the terms, you must abide by them, regardless of other mitigating factors, such as Fair Dealing exemptions.
from A Guide to Copyright (Canadian Intellectual Property Office)
In the simplest terms, "copyright" means "the right to copy." In general, copyright means the sole right to produce or reproduce a work or a substantial part of it in any form. It includes the right to perform the work or any substantial part of it or, in the case of a lecture, to deliver it. If the work is unpublished, copyright includes the right to publish the work or any substantial part of it.
In order to be copyrighted, a work must be in a fixed format, and able to be copied. The format can be physical (printed book, painting) or digital (email, photograph, sound file), as long as it can be copied and it is original, it is copyrighted.
Watch this short video, which gives the basic outlines of copyright in Canada.