None of the responses are completely accurate.
The correct relationship between fair use and copyright is that fair use is a limitation and exception to the exclusive rights granted by copyright law. Fair use allows for the use of copyrighted material without permission in certain circumstances, such as for purposes of criticism, commentary, news reporting, teaching, scholarship, or research. Fair use is a defense to copyright infringement, but it does not actually grant permission to use copyrighted material. Copyright, on the other hand, grants the creator of a work exclusive rights to reproduce, distribute, perform, display, or create derivative works based on that work.