A few folks have asked me to make transparent copy right actions for photoshop and I have. However, I was thumbing though some of my 1st quarter photoshop notes, Ms. Hwang's class, and I ran arcoss her method of watermarking and creating transparent text, which by the way are the same as Scott Kelby's. In Chapter 12 of the Photoshop CS3book by Scott Kelby, he lists step by step instructions for doing this. A little different from mine but in the end they do the same thing. Oh yeah, please use it lightly. There is nothing worse than trying to look at a photo with a watermark across it.
If you would like to visit Scott Kelby's site to see all the training he does, then simply wingle your nose and click here.