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In this video tutorial, the presenter demonstrates how to use the Find and Replace feature in Microsoft Word. This function is particularly useful for modifying template documents by replacing specific words or phrases consistently throughout the text. The example provided uses an employee handbook template, where the term “company name” appears in various locations in bold and brackets. The presenter copies the text (including the brackets) using Ctrl+C, navigates to the Home ribbon under the editing section, selects the Replace option, and pastes the text with Ctrl+V. They also point out the importance of removing an unwanted space accidentally copied to ensure accurate replacements.