In terms of SharePoint technologies…

HYBRID: is where an organization moves some of its operations to the cloud, but maintains others on servers within that organization. Typically, businesses choose to store some of their most sensitive files in local servers where they feel they can better vouch for their security. This is particularly important in countries where the law proscribes saving citizens’ private data outside the country’s physical boundaries. Because cloud data centers may be based in far off countries, a hybrid solution that isolates data from its country of origin can often be a good trade-off between cloud benefits and data security.

Know that it is possible to require that your cloud data does not leave your country specific to the United States and Canada.

FULL CLOUD: you move all your documents and processes out of SharePoint and remove or archive your SharePoint environment.

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