An assembly is sometimes described as a logical .EXE or .DLL, and can be an application (with a main entry point) or a library. An assembly consists of one or more files (dlls, exes, html files etc), and represents a group of resources, type definitions, and implementations of those types. An assembly may also contain references to other assemblies. These resources, types and references are described in a block of data called a manifest. The manifest is part of the assembly, thus making the assembly self-describing.

An important aspect of assemblies is that they are part of the identity of a type. The identity of a type is the assembly that houses it combined with the type name. This means, for example, that if assembly A exports a type called T, and assembly B exports a type called T, the .NET runtime sees these as two completely different types. Furthermore, don't get confused between assemblies and namespaces - namespaces are merely a hierarchical way of organising type names. To the runtime, type names are type names, regardless of whether namespaces are used to organise the names. It's the assembly plus the typename (regardless of whether the type name belongs to a namespace) that uniquely indentifies a type to the runtime.

Assemblies are also important in .NET with respect to security - many of the security restrictions are enforced at the assembly boundary.

Finally, assemblies are the unit of versioning in .NET - more on this below.