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COM

The Component Object Model (COM) is a software architecture that allows applications to be built from binary software components. COM is the underlying architecture that forms the foundation for higher-level software services, like those provided by OLE. OLE services span various aspects of commonly needed system functionality, including compound documents, custom controls, interapplication scripting, data transfer, and other software interactions.

The Component Object Model (COM) is a way for software components to communicate with each other. It's a binary and network standard that allows any two components to communicate regardless of what machine they're running on (as long as the machines are connected), what operating systems the machines are running (as long as it supports COM), and what language the components are written in. COM further provides location transparency: it doesn't matter to you when you write your components whether the other components are in-process DLLs, local EXEs, or components located on some other machine. (There are performance implications, of course, but you don't have to rewrite a thing to change the other components' locationsthat's key).

DCOM

The Distributed Component Object Model (DCOM) is a protocol that enables software components to communicate directly over a network in a reliable, secure, and efficient manner. Previously called "Network OLE," DCOM is designed for use across multiple network transports, including Internet protocols such as HTTP. DCOM is based on the Open Software Foundation's DCE-RPC spec and will work with both Java applets and ActiveX components through its use of the Component Object Model (COM).