The Library
The library functions as a repository for every object that is registered to your VC/m environment. For each object, it stores both the most recent version and as many earlier ones as the users wish.
Most VC/m environments are configured to have one multi-version location as their library, although some complex ones spread their libraries over multiple locations.
In a typical development cycle, the master object version is copied from the library (checked-out) into a working location as the master copy of a new version of the object. Once development work is finished, this master copy is returned to the library (checked in) before being released.
Distinguishing Between Library Locations and Library-view Locations
It is important to note the difference between library location and a library-view location. Library locations are in fact a type of library-view location. The difference between them and other library-view locations is that library locations are designed to contain a master version of every object version in the VC/m environment.
Other library-view locations contain object versions which are in the library repository, but are in a specific state or at a particular stage of development. A location for failed object versions is one example. Just like a library location, it is a multi-version location that maps to the repository. The difference is that objects are only transferred there if they have failed testing.
See Also: Single- and Multi-Version Locations, Physical Storage, Locations, Location Types