I have this graphics in Illustrator.
I would like to remove the portions of the globe outside the outlined path and I want the remaining earth and the space inside the path as two separate regions. Can this be done?
Copy the rounded rectangle shape. (Ctrl/Command+c
Select the globe
Paste in Front (Ctrl/Command+f)
Select the newly pasted rounded rectangle and the globe
Object > Clipping Mask > Make from the menu.
For more information on Clipping Masks, check out the Adobe Illustrator Help Files.