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In this tutorial, we learn about adding watermarks to documents using PDF Exchange Editor. Watermarks are useful for protecting documents and indicating ownership. They can be added in text or image format. To add a watermark, go to the organize tab, click on the watermarks menu, and then click add. You have the option to use an image file or custom text for the watermark. You can customize the text, font, and alignment of the watermark. Macros can also be used for further customization.