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An object needs to be cloned from an existing object.

There are many variations for one type; instead of passing parameters to the constructor, using a builder is more convenient.

Using the Factory Method Pattern to add many types within the same family is considered an Abstract Factory.

If there is only one factory for all Products, it is no longer the Factory Method but a Simple Factory.

Use it when you anticipate that a class or module will have many variations and will be used in multiple places.