One term thrown around a lot in internet marketing circles is "duplicate content" or "duplicate content penalty". This is the idea that having content on your site that has significant similarity to existing content on the internet will cause your site to perform badly in the search engines -- most notably, Google.
Firstly, the word "penalty" is something of a misnomer. You're not going to drop one hundred places in the search listings just because it displays duplicate content. However it will not be rewarded for posting duplicate content. In other words, it will not do well in the search engines. Typically content that is deemed to be duplicate will appear in the supplemental results of a web search (the bit where it says "pages similar to the ones shown have been omitted") and will therefore not drive any traffic to your site. That's the "penalty".
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