What does "いいえ" means?

I grew up saying this word but not understand what it means...

いいえ (ee-yeah)

Decades later, it came to my mind.. "What does "いいえ" means?"

 "いいえ" means "no"...

そうですね (sou desu ne)... or... 原來是這樣.... 8-O

Also, if you say thank you to someone and you get "いいえ" as a response...

Sort of like, in Chinese... the word-by-word translation of "不謝" to English is "no thanks," which actually means "You are welcome" or "Don't mention."

In Japanese, apparently, just say "no." 8-O lol