In your paths palette you'll see a second work path appear with your typography for the watermark. There's no need to save this since we'll now cut this path and paste it in the path layer with your copyright symbol.
Return to the Path Selection tool (Tap A) and in the window, drag a selection rectangle around all of the words. When you release, all of the handles will appear, solid, indicating you've selected all the paths of the type.
Edit > Cut (or Cmd/X, Ctrl/X) to remove the type.
Select the previous path with the "C" symbol and paste. (Cmd/V or Ctrl/V)
Your type will join the "C" symbol on it's path layer. All the handles will be selected, so you can move the words into position with the Path Selection tool.
If either of your paths needs scaling, you can select it, and then use the
transform command (cmd/T or ctrl/T ; Edit > Transform > Scale) to scale it into the size you need.
Return to the Path Selection tool (Tap A) and in the window, drag a selection rectangle around all of the words and the symbol to select all. Notice all the handles will be black, or solid.
Choose menu: Edit > Define Custom Shape
A naming dialog will appear. Give it an appropriate name, and presto you now have a watermark shape.
Return to the Custom Shape picker, and at the bottom of the boxes, you'll see your newly formed custom shape.
Go ahead and select it. (Note in our picture here, I have a second one I created previously.)
Now, you can insert that into any file, any size, any resolution. Click and drag in your image window (use the shift key again) and your watermark is ready for styling.
Next: Let's put that custom shape to work...
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from the Editor:
I was delighted that day back in 1989 when Peggy Killburn called to ask if I could handle one more speaker in my "Great Graphics Tips & Tricks" session scheduled for the 1990 Macworld Expo. "Yes" was my response to her request to add Russell Brown to my panel. After all, we loved Adobe's young "Illustrator" program, and were quite anxious to try out their upcoming new product called "Photoshop." After seeing his demo, I was convinced Photoshop would be big. So the next month we added "Photoshop Tips & Tricks" to our regular DTG Magazine uploads to Compuserve, GEnie and AOL. The rest is history.
I only regret that I didn't trademark the name.
Editor / Publisher: Photoshop Tips & Tricks, DTG Magazine.