If a website give you the embeded code to share the vidoe and i embed that on my site to share with my visitors am i safe? If the original owner of the video is sharing the video by allowing others to copy the embeded code and share it through out the web i should be fine then right?
It depends on whether the video was infringing in the first place. Example one: Some guy takes a video of his kid and posts it on YouTube. He owns the rights to that video, but by uploading it to YouTube and allowing for the embed code he gives YouTube the right to use it in that manner. If you then embed the video on your site there is nothing illegal. Example two: Somebody makes a pirate copy of a movie and uploads it to YouTube. That person cannot legally waive any copyrights regarding distribution because he never owned them. If you then embed that infringing video on your site, you could be found guilty of contributory infringement. If your idea for a site is to pull embedded videos of sporting events, movies, or tv shows, I personally wouldn't do it. Just to sum it up, the answer to your question depends on whether the person that uploaded it to the streaming site had the rights to do so in the first place.
Yes offcourse u can embed the videos from youtube to your website. If not, then why does youtube provide the embed code for each video inorder to insert into ur website.
Because they operate under different rules. YouTube has protection under the safe harbor provisions of the DMCA because their content is user generated (and other reasons). When you embed a video on your site that is not user generated content and is not protected under the DMCA. So, if you embed an infringing video on your website, you can be found guilty of copyright infringement. But if you read my post above, it depend on whether the video being uploaded to YouTube constituted infringement in the first place.