Copyright regarding mylot pictures

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I've been a tad confused about what mylot mean by "copyright" to do with uploading of pictures here. I will email them to ask them to clarify this but in the meantime ... I personally just assumed that they meant don't steal pictures from google or other search engines and just post them as your own ... but other people disagree with me saying that if they are online then anyone can take them and do what they like with it. I've even seen pictures uploaded for discussions that still have the original site watermark still on them! So ... where do you stand?? Are pictures that are posted online free for anyone to use?? and do what do you take the "copyright" about photos/pictures to mean??