When a user types in a lookup field to find a matching value, and there is no match, they can click the Add new record link. We need a way to keep the text they began to type, and transfer it to the new record.
For example, there is a lookup field named "Contact". The user types "Jerry" and there are no records that match. So the user clicks "Add new record" at the bottom of the lookup drop-down list. A new window pops up, "Add Contact". The "First Name" field will automatically show "Jerry". The user will not have to type it two times.