Matt / Gloss Lamination
A very thin plastic coating applied onto the printed / unprinted paperstock. Lamination is not water tight because moisture can get into the paper through the unsealed edges. However because it is so thin it is used to give printing a high gloss on really matt finish, without making the paper thick to fold or score. Indeed the only way the untrained eye can recognise if a sheet of paper is laminated, is if they rip the corner of the sheet. Only that way can you see the layer of plastic.
Encapsulation is similar to above, slightly thicker and has a lip that runs off the edge of the paper, sealing the paper inside the plastic and making is somewhat waterproof. With time the edges may crack and moisture can get in but this is a great solution for menus and industrial cards that need to be highly durable and waterproof.