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Summary: Labeling clips in Final Cut Pro 5 is an important part of the video editing process, get a tutorial in this free video.
"Hi! This is C.J. South representing expertvillage.com. In this clip, I am going to show you how you can label your clips with colors to help keep track of them. So let me now show you how to label your items with colors. Let's just get rid of the thumbnail column here. Just right click and hide column. So let's say, we have different tapes here and we have different folders. There is a nice little feature called labeling so what you have to do is right click whether it is a folder, a sequence, a clip, right click it. Go down to label and now you have a choice between none, good take, best take, alternate shots, interviews and B-roll and you see they all have a color code to them. So whatever you click it changes now to that color. I just made an orange colored clip. Come down and you could do a best take. All right, it's a red clip now. You can do a folder as well or a sequence. It's up to you, whatever you want to do. Now you probably asking how can I change that. If you are not, let me tell you, you can change it. Instead of good tape, maybe you want it to say Lisa, may you have like different people you want to categorize these clips in. This will be Lisa and this could be Jake and this could be John. So let me go ahead and show you how to do that. Come to Final Cut Pro, go to user preferences and then it is labels, under the label tab. As you can here, the different colors so you can just rename this. Instead of good tape, it's now Sarah. You can change it Jake. You could do John. You could just go ahead and name these whatever you want and then click okay and then it will show up under label. It is just another way to keep track of your stuff. "
eHow Article: Labeling Clips in Final Cut Pro 5