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In this video tutorial by Trump Excel, the speaker explains how to lock formulas in Excel to prevent accidental deletion or changes that could lead to incorrect calculations. By default, all cells in Excel are locked, but to truly restrict access, they need to be protected. Protecting the cells ensures that only the necessary users can make changes to them, maintaining the integrity of the formulas in the file. This tutorial will guide you through the process of locking and protecting cells in Excel before sharing the file with others.