Web Design Dictionary - A free glossary of web site design terms.
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link farm

  A web site that contains many external links, where the purpose is to direct a link (and PageRank) to the linked pages. Having a link pointing to your site from a link farm should do no harm, but the link is of such low quality that it is seldom worth the effort. Linking from your site to a link farm can however be harmful to you as search engines routinely weed link farms out and are believed to penalize sites that link to them.

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