Here is summary of the best practices. These are all critical for having meaningful discussions in our society, particularly discussions that critique the media, politics, religion, corporations and popular culture. As the article notes, they are also critical for maintaining free speech; otherwise a copyright holder could silence someone's speech through enforcement of their copyright.
One: commenting on or critiquing of copyrighted material
Two: using copyrighted material for illustration or example
Three: capturing copyrighted material incidentally or
accidentally
Four: reproducing, reposting, or quoting in order to
memorialize, preserve, or rescue an experience, an event, or a cultural
phenomenon
Five: copying, reposting, and recirculating a work or part
of a work for purposes of launching a discussion
Six: quoting in order to recombine elements to make a new
work that depends for its meaning on (often unlikely) relationships between the
elements
I'll admit that I was a victim of some of the myths about fair use, specifically the one that says "If I’m not making any money off it, it’s fair use." I do think, however, you're less likely to be the target of legal threats, but automated algorithms like YouTube uses can catch a lot that would've previously gone unnoticed and automatically restrict them, which is also a concern.
http://sites.uci.edu/elad/files/2012/03/video_fair_use.pdf
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