Rare panic involving copyright (6)
I believe the answer is:
scarce
'rare' is the definition.
(similar in meaning)
'panic involving copyright' is the wordplay.
'panic' becomes 'scare' (synonyms).
'involving' indicates putting letters inside.
'copyright' becomes 'C' (as in the copyright symbol, a C in a circle).
'scare' going around 'c' is 'SCARCE'.
(Other definitions for scarce that I've seen before include "Hard to get" , "Hard to obtain" , "Not enough to satisfy demand" , "Insufficient to meet demand" , "Not enough to meet demand" .)