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<param>

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The most popular use of this tag is to setup variables to be passed to a Java program running on the browser.

name=
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This attribute is mandatory. This is the name of the variable.
type=
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In the condition where valuetype="ref", there must be a method of telling the program what type of data it will receive. The typical argument is the mimetype of the data stored in the file indicated by valuetype="ref".
value=
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This attribute is mandatory. This is the content of the variable.
valuetype=
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This attribute dictates how the value of the variable will be passed to the program.
"data"
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The content of the variable will be passed directly to the program as a string. This will happen after the string has parsed any embedded characters or numeric character entities. This is the default setting should "valuetype=" be omitted or not carry an argument.
"object"
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"Indicates that the value is a URL of an OBJECT element in the same document. This is used primarily for object valued properties (where the value of a property is a pointer/reference to a running object)." (W3)
"ref"
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"Indicates that the value is a URL. This allows support tools to identify URLs given as parameters. The value should be passed as is after dealing with any embedded character or numeric character entities, i.e. the URL should not be canonicalized before being passed to the OBJECT." (W3)

The contents of the variable are an address where run-time variables are stored. The information is not parsed but is passed "as-is" directoy to the program.