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When an appointment or meeting is marked private, other people can't see the details of the item. If you share your Calendar, Contacts, or Tasks folders with one or more people who have Read permissions, the Private feature will not prevent them from seeing the details of your appointments.
Scheduling Assistant is a tool in Outlook that helps you find the best time to schedule a meeting by displaying times when a person is busy or free.
Remove a meeting from your Outlook calendar when the meeting isn’t necessary and you want to let the meeting attendees know the meeting is cancelled.
If you are the organizer of a meeting, you can change the meeting details and send an update to the attendees. You can also send a meeting cancelation so that the attendees can remove the meeting from their calendars.