This template is used inline, usually at the beginning of a talk or process page comment, to indicate the resolution status of a request or other item that preceded it. It does not end with any punctuation. This particular template is usually used at Wikipedia:Copyright problems. .
Placing the code:
The template accepts a single parameter (unnamed or given as |1=) that changes the word "Checked" to the text specified in the parameter, e.g. "Checked to the extent possible".