Lossless formats are types of data compression that preserve the original quality of the file without any loss of information. This means that when a file is compressed and later decompressed, it returns to its exact original state. Common examples of lossless formats include FLAC for audio, PNG for images, and ZIP for general file compression. These formats are particularly useful for professionals who require high fidelity, such as musicians and graphic designers. By using lossless formats, they can ensure that their work maintains its quality throughout editing and sharing processes, making them ideal for archiving important files.