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OEM stands for Original Equipment Manufacturer.
OEM, when used to describe software, is used to differentiate that version of the software which is bundled with specific hardware from that same software package sold on its own as a retail package.
In most countries the majority of OEM software must be purchased with accompanying hardware. However, some OEM software can be purchased separately, and the difference in price between OEM and full retail software can be substantial. So if having no box, no manual and no technical support is not a concern, then it can be a great deal.