Go to layout view. Add the legend and organize the layout as you want it. Go to "File>Export" and choose the format you want to export to, etc. My license is down and so I can't verify this process right now, but I'm pretty sure that should work. This will be an image for sharing (like I did in this thread), it will not likely be good for Arc Map data or be georeferenced. I think if you do the export from data view, the image might be georeferenced, but you won't get a legend since that only works in layout view. I suppose you could screen capture the legend and paste it into data view if you want the data part to be georeferenced and have the legend also.