LINK Help (linker.hlp) (Table of Contents; Topic list)
LIBRARY Statement
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     Syntax:  LIBRARY [libraryname] [PRIVATELIB]
 
     Identifies the main output file as a DLL. LIBRARY can also specify
     a name for the .DLL file. If LIBRARY is specified, the NAME
     statement cannot be used. LIBRARY or NAME must precede all other
     statements. If neither is used, the default is NAME.
 
     Arguments can appear in any order. If <libraryname> is specified,
     it becomes the base name of the .DLL file. This name can be any
     valid filename. LINK assumes a .DLL extension whether or not an
     extension is specified. If <libraryname> contains a space, begins
     with a nonalphabetic character, or is a reserved word, enclose it
     in double quotation marks. The name cannot exceed 255 characters
     (not including surrounding quotation marks). The default is the
     base name of the DLL. The <libraryname> overrides a name specified
     in LINK's <exefile> field.
     See: Reserved Words
 
     Specify PRIVATELIB to tell Windows that only one application may
     use the DLL.
 
     Example
 
          LIBRARY calendar
 
     This example names the file CALENDAR.DLL.
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