You snapshot the data in your application's native data format, then you can convert it later to the best match for the consumer.

Taking the Excel example form above: You got to store the cell layout and values. If it's pasted into a different excel sheet you pass that structure over. If it is pasted in a richt text editor it is converted to some richt text table format. If it is pasted to a plain text editor it is made tab separated or something and if pasted into an image editor it is renders into a bmp (well, Excel doesn't do that, but imagine ...) Doing all those conversions beforehand, just due to pressing Ctrl-C, is expensive as most of the time none is needed.