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Bullets in a white paper can be short and sweet or longer paragraphs, depending on their purpose. If you decide to include longer bullets, however, I suggest that you highlight the most important information at the beginning of the bullets. For example, you might bold the first few words or the first sentence in a bullet, and that bolded information should contain a summary of what is contained in the bullet's paragraph. Thus, if the reader decides to skim the bullets, he/she will at least catch the most vital information.