If you placed an object into a new file with a white background, it might be easiest to use the Magic Wand tool to select the background and then choose Select | Inverse to quickly select your object.
Click the small triangle in the top-right corner of the Paths palette and select Save Path. Name the path appropriately and click OK. Then, click the small triangle in the Paths palette again and choose Clipping Path. Make sure the name of the path you just created is selected and click OK. Choose File | Save, and save this file in the EPS file format. Remember, you must have the clipping path named and selected prior to saving, or it will not knock out the background. (You can now place this file into another program and it will appear free-floating with no imported background—but continue reading to add a shadow to the file.)
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