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Metal Oxide Varistors (MOVs) act as voltage-dependent resistors, protecting circuits by instantly lowering resistance and shunting surge current to ground during high-voltage events. Key selection parameters include Maximum Continuous Operating Voltage (MCOV), clamping voltage, and surge current rating, as outlined in industry guides from Bourns and Littelfuse. Tips on Selecting the Right MOV Surge Suppressor - Bourns