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Azure Information Protection

Better protect your sensitive information—anytime, anywhere
Azure Information Protection (AIP) is a cloud based solution to classify and optionally protect documents by applying labels.
As per this page, Microsoft deprecates Azure Information Protection client (classic) in favor of Azure Information Protection unified labeling client as of 2021-03-21.
In the Office applications Word, Excel and PowerPoint, the Home menu has the Protect (client classic) or Sensitivity (unified labeling client) Button, as shown for this Excel screen shot:

Storing labels in Office Documents and eMails

Office documents and (Outlook?) eMails store labels in metadata.
Word, Excel and PowerPoint documents store this metadata in a custom propert with the name MSIP_Label_<GUID>_Enabled where <GUID> is the GUID of the label.
In eMails, the labe is stored in a x-header field.
An example that demonstrates how an Information Label can be set in Excel with Visual Basic for Applications is here.

PowerShell module AzureInformationProtection

The installation of Azure Information Protection comes with the PowerShell module AzureInformationProtection that has the following cmdLets:
get-aipFileStatus identify all files with a given label, for shared folders
set-aipFileClassification Automatically label files in a shared folder according to the contents of the files and rules that were previously defined.
set-aipFileLabel Apply a file label to all files in a shared folder that don't have a label.
set-aipAuthentication Non-interactive labeling of files.

See also

%ProgramFiles(x86)%\Microsoft Azure Information Protection
%LOCALAPPDATA%\Microsoft\MSIP
Azure Rights Management
Set Azure Protection Label Tag with Office VBA:

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