A permanent magnet is an object that keeps its magnetism for a long time. Unlike temporary magnets, which lose their magnetism quickly, permanent magnets retain their magnetic properties for an extended period. These magnets are made from materials such as iron, nickel, and cobalt, which have strong magnetic properties and can maintain their magnetism even without an external magnetic field. Permanent magnets are commonly used in various applications, including electric motors, generators, speakers, and magnetic storage devices.