link exchange programs

Can link exchange programs lead to content duplication?

[cliffhanger]

Hello,

I was reading through an earlier thread and gathered that the copyscape results for my site should be zero. It wasn't and to my shock I found that we have been using a link exchange program where we are giving people content which is duplicate to our webpage.

Now I know that this is bad, but really? how bad?

Second, I also heard, that Google frowns on any link exchange programs? How far is this true?

Thanks. Sam

[Quadrille]

Content exchange and link exchange are two very different things.

Please clarify.