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This video tutorial demonstrates how to use the Find and Replace feature in Microsoft Word. It focuses on replacing a specific word or phrase in a template document, such as an employee handbook. The example shows how to replace the generic "company name" text, which appears multiple times in the document and is formatted in bold and brackets. The presenter copies the text, accesses the Replace function under the Home ribbon in the editing area, and pastes the copied text. The tutorial highlights the importance of removing any accidental spaces before executing the replacement.