The document discusses the COPY verb in COBOL, which allows programs to include frequently used source code text from a copy file or library. When a COPY statement is used, the source code is copied into the program before compilation. The COPY verb is useful for large software systems, as it helps reduce errors and simplifies implementation by reducing duplicated code. The syntax of the COPY statement and REPLACING phrase is explained, along with examples showing how text is copied and replaced.