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// For complete examples and data files, please go to https://github.com/groupdocs-watermark/GroupDocs.Watermark-for-.NET
using (Stream stream = new MemoryStream())
{
    using (Document doc = Document.Load(@"C:\test.doc"))
    {
        // watermarking goes here
        // ...

        // Saves the document to the underlying source (stream or file)
        doc.Save();

        // Saves the document to the specified location
        doc.Save(@"C:\result.doc");

        // Saves the document to the specified stream
        doc.Save(stream);
    }
}