What's the difference between shut down and log out?

Hi,
I have a MacBook Air and will sell it.
I like to take out my name but don't know how.
What will happen if I Log Out (my name comes after that)?
What's the difference between Shut down and Log out?
Help please,
Thanks

Welcome to the Apple Support Communities
The shut down turns off the Mac and a log out closes your user and take your computer to the log in screen. To sell the Mac, you have to reinstall Mac OS X erasing the disk. Open  > About this Mac and copy Version

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