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LSP/Span Protection:

"LSP/span protection denotes the paradigm whereby one or more dedicated protection LSP(s)/span(s) is/are fully established to protect one ore more working LSP(s)/span(s)."

LSP/Span Restoration:

"LSP/span restoration denotes the paradigm whereby some restoration resources may be pre-computed, signaled and selected a priori, but not cross-connected to restore a working LSP/span. The complete establishment of the restoration LSP/span occurs only after a failure of the working LSP/span, and requires some additional signaling."
Difference b/w Protection & Restoration