You can submit an image of the CD to the Internet Archive, exactly the kind of stuff they're collecting:
Is there a guide to the best way to rip the disc image, preferred formats for inlay scans, etc?
And do I need to do anything regarding copyright? I would definitely not want to cause any legal trouble for archive.org as it is a v valuable resource.
Not sure there's any magic involved, I did this on Linux with dd if=/dev/cdrom of=file.iso. For scans I just did the highest resolution my scanner did.
Re copyright, I wouldn't be overly worried. I mean this stuff usually contains shareware, demos and other software that was supposed to be copied. The Internet archive will probably take it down if there's a legit complain, but given that mostly "nobody cares" it should be okay.