What Does Clipboard Mean?
A clipboard is a temporary place to store data in a computer application. Technically a clipboard is a section of random access memory (RAM). Once stored in this temporary place, clipboard data may be copied to another place, whether it be within the same application or into a new one. Given that the clipboard is stored in RAM, users must remember that all clipboard data is erases when the computer shuts down.
Also known as a clipboard buffer.
Techopedia Explains Clipboard
In word processing and other applications, the clipboard may be used extensively. For example, editing text often involves moving words, phrases, sentences or entire paragraphs or pages, to a different location. After blocking or highlighting the particular section--usually by dragging the cursor over the text—it can be cut or copied, then moved (or pasted) to a new location.
Most operating systems impliment a clipboard in one way or another and there are differences specific to each as to how you use the clipboard.