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XML Notepad is a user-friendly tool for editing XML documents, which are commonly used in data exchange between companies. XML has a unique format with angle brackets and comments that can be difficult to edit without errors. XML Notepad simplifies the editing process with three installation options: click once, stand-alone, and Win-get installer. The preferred method is the click once installer, which can be easily downloaded from the web browser. It is important to verify the publisher as Chris Love before proceeding with the installation. Once installed, users can easily edit XML files with XML Notepad.