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A late-bound object is an object that is assigned to a variable of type object on the program runtime. It is used in object oriented programming (OOP) in the object binding process. It works much like an early bound object but attaches the object library within the code at program/application runtime.
A late-bound object might also be called a dynamic bound object.
Late-bound object models are primarily part of the binding process within the OOP development context. They are used to expose or provide the objects of a client object model to the calling or underlying application. Late bound objects are slower than early bound objects because they prohibit the compiler from creating memory space and performing necessary optimizations prior to program execution. However, late bound objects are easier to create and declare than early bound objects because they are not dependent on the base application and will only create and get the correct reference model.