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> Lvalue stands for locator value.

Wait, I thought it was for a value that could appear on the "left" hand side of an expression…

Worst writeup on the subject I've seen so far.
I agree: I do not master C++ value categories, but I am pretty sure there are a few errors. And you don't get to understand much anyway. Does anybody know some better writeup on the subject? It is probably the biggest core C++ topic that I still have to properly digest.
With all due respect but it looks like a trimmed down copy-paste from cppreference. I dont think they are original themselves, but they don't pretend to be imho. Maybe it's just the same source.

Information-wise it's nothing more and slightly less. So I'd suggest checking the other source.

> An lvalue is something that occupies a memory location.

Not necessarily. It might also inhabit a register.

> When C++ introduced the const keyword...

As of Stroustrup's first publication of “The C++ Programming Language”, C++ has always had the `const` qualifier.

There may be more errors, but this should be enough to discard this writeup and seek enlightenment from a qualified source.