Guidelines on Open Access and Copyright

An Open Access Publication is one that meets the following two conditions:

  1. The author(s) and copyright holder(s) grant(s) to all users a free, irrevocable, worldwide, perpetual right of access to, and a license to copy, use, distribute, transmit and display the work publicly and to make and distribute derivative works, in any digital medium for any responsible purpose, subject to proper attribution of authorshipb, as well as the right to make small numbers of printed copies for their personal use.
  2. A complete version of the work and all supplemental materials, including a copy of the permission as stated above, in a suitable standard electronic format is deposited immediately upon initial publication in at least one online repository that is supported by an academic institution, scholarly society, government agency, or other well-established organization that seeks to enable open access, unrestricted distribution, interoperability, and long-term archiving... [an example of this is RePub, Erasmus University's repository].

Open access is a property of individual works, not necessarily journals or publishers.  
Community standards, rather than copyright law, will continue to provide the mechanism for enforcement of proper attribution and responsible use of the published work, as they do now.
________________________________________
Based on 'The Public Library of Science' http://www.plos.org/oa/definition.php [Accessed 31 May 2010]

The Publising Research Consortium published an interesting paper about what journal authors think they are allowed to do and what is really permitted by publishers' author agreements.