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The Win32 clipboard uses a special format for handling HTML. The basic
problem that the special format is trying to solve is that the user can
select an arbitrary chunk of formatted text that might not be valid HTML.
For instance selecting half-way through a bolded word would contain no </b>
tag. The solution is to encase the fragment in a valid HTML document.

You can read more about this at:

This module deals with converting between the clipboard HTML format and(more...)