Copy On Click

var button = document.getElementById("copy-button"),
    contentHolder = document.getElementById("content-holder");

button.addEventListener("click", function() {

    // We will need a range object and a selection.
    var range = document.createRange(),
        selection = window.getSelection();

    // Clear selection from any previous data.
    selection.removeAllRanges();

    // Make the range select the entire content of the contentHolder paragraph.
    range.selectNodeContents(contentHolder);

    // Add that range to the selection.
    selection.addRange(range);

    // Copy the selection to clipboard.
    document.execCommand('copy');

    // Clear selection if you want to.
    selection.removeAllRanges();

}, false);

Modify Copied Text

document.addEventListener('copy', function(e){

    // We need to prevent the default copy functionality,
    // otherwise it would just copy the selection as usual.
    e.preventDefault();

    // The copy event doesn't give us access to the clipboard data,
    // so we need to get the user selection via the Selection API.
    var selection = window.getSelection().toString();

    // Transform the selection in any way we want.
    // In this example we will escape HTML code.
    var escaped = escapeHTML(selection);

    // Place the transformed text in the clipboard. 
    e.clipboardData.setData('text/plain', escaped);

});