What are the Types of Assemblies?

Assemblies are of two types:
1. Private Assemblies
2. Shared Assemblies
Private Assemblies: The assembly is intended only for one application. The files of that assembly must be placed in the same folder as the application or in a sub folder. No other application will be able to make a call to this assembly. The advantage of having a private assembly is that, it makes naming the assembly very easy, since the developer need not worry about name clashes with other assemblies. As long as the assembly has a unique name within the concerned application, there won't be any problems.
Shared Assemblies: If the assembly is to be made into a Shared Assembly, then the naming conventions are very strict since it has to be unique across the entire system. The naming conventions should also take care of newer versions of the component being shipped. These are accomplished by giving the assembly a Shared Name. Then the assembly is placed in the global assembly cache, which is a folder in the file system reserved for shared assemblies.