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Backstage view (which appears when you click File) has all the information and control over settings that you’ll find in the full Office editions, including yet another opportunity to purchase one of the full versions. Note the limitations are described much more kindly here than in the required disclosures from OEMs.
Look! It’s another Purchase button, with more details about what you’re missing. A noteworthy feature not found in full versions is the Take Office With You button, which installs Office Starter on a USB key that runs on any Windows PC.
The Starter edition of Word includes the full assortment of built-in templates and also offers access to every template available on Office.com from Microsoft and trusted third parties as well as from user-contributed sources.