OpenDocument or ODF, short for the OASIS Open Document Format for Office Applications, is an open format for saving and exchanging office documents such as memos, reports, books, spreadsheets, databases, charts, and presentations. This standard was developed by the OASIS industry consortium and based upon the XML format originally created by OpenOffice.org. ODF was approved as an OASIS standard on May 1, 2005, and was approved for release as an ISO and IEC International Standard (ISO/IEC 26300) on May 8, 2006. 
The OpenDocument standard has been developed by a variety of organizations and is publicly accessible. This means it can be implemented into any solution, be it open source or a closed proprietary product, without royalties. The OpenDocument format is intended to provide an open alternative to proprietary document formats so organizations and individuals can avoid being locked in to a single vendor.
ODF is the first standard for editable office documents that has been vetted by an independent recognized standardization body.
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