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Linked object
In OLE terminology, data stored in a document that originated from another application. Unlike an embedded object, this type of object has its own file on the disk. The source application is run for editing when you doubleclick it. For example, a Paint drawing linked to a Word document. Linking saves space over embedding when a particular object must be included in more than one other document, since the data does not have to be stored multiple times. Additionally, you can directly edit a linked file, and all the documents that the link to the file update automatically.  
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