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Today, we are learning how to add watermarks to documents using PDF Exchange Editor. Watermarks can protect documents, indicate ownership, and prevent counterfeiting. They can be added in text or image format. To add a watermark, click on the organize tab, then the watermarks drop-down menu, and select add. You can use an image file or custom text for the watermark. The preview pane shows how the watermark will appear. You can customize the font, alignment, and use macros.