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Sean from Tracker Software shows how to add watermarks to documents using PDF Exchange Editor. Watermarks are useful for protecting documents, indicating ownership, and discouraging 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 have the option to use an image file or custom text for the watermark. Customize the text, font, and alignment using the dialog boxes. Macros can also be used for additional customization.