Is Magic Weapon associated with a weapon or with the hero?

The Wizard’s Magic Weapon skill description reads:

Imbue your weapon with magical energy, granting it 10% increased damage. Lasts 5 minutes.

What does it mean, imbue the weapon? If I switch weapons, do I lose the enchantment? And if I cast the spell and then give my weapon to another player, does that player get the benefit of the enchantment? Or is it just a fancy way of writing “+10% damage for 5 minutes”?

Solution 1:

This is just a fancy way of saying "+10% damage for 5 minutes".

Fundamentally, you're looking at the skill wrong - it's not "imbue Target: Weapon", it's "imbue your weapon". If you give it to someone else (soulbound weapons notwithstanding), it's not your weapon, anymore, and presumably you have a new weapon.

Furthermore, since all skills with damage scale off... weapon damage, there is not even an issue of "But I don't use my weapon for X, do I still get the bonus?". The bonus works with all abilities (and includes the runed versions of magic weapon too. Every spell gets lifesteal? Why not!)

You get the bonus. Always. It's a self-buff, and it vanishes when you change your weapon. This also applies to your offhand (should you cast MW on a 1-hander, you lose your MW bonus when you swap offhands).