Run the following two commands; however, I did not find the copy function did me much good, because I still had to highlight the text with the mouse. It was nice to have a paste feature though.
Paste Function
gconftool-2 -t str -s /apps/gnome-terminal/keybindings/paste "
Copy Function
gconftool-2 -t str -s /apps/gnome-terminal/keybindings/copy "