Watermarks are dim images in the background of a document to mark them as Confidential, Draft, a company logo, etc. Here's how...
Word 2007 or 2010
1. On the Page Layout tab, in the Page Background group, click Watermark.
2. Scroll through the designs and choose one,
or
Click Custom Watermark, click Text watermark and then select or type and format the text that you want.
3. To view a watermark as it will appear on the printed page use Print Layout view
Word 2003
1. On the Format menu, point to Background, and then click Printed Watermark.
2. Do one of the following:
a. To change pictures, click Select Picture.
To change picture settings, select or clear the options you want under Picture watermark.
b. To change text, select a built-in phrase or type in your own phrase.
To change text settings, select or clear the options you want under Text watermark.