We’ll let the experts explain this one.
Visit Microsoft's Sharing files and folders page for more information.
The Anyone with the link option creates a link that any person can use to access the file or folder without signing in to Microsoft 365 or OneDrive. This link can also be forwarded around to anyone, so use it when you want to share with people and are comfortable with them passing the link around to other people, inside or outside your organization.
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