When you specify the /tlb option with Regasm.exe (Assembly Registration Tool), Regasm.exe generates and registers a type library describing the types found in the assembly. Regasm.exe places the generated type libraries in the current working directory or the directory specified for the output file. Generating a type library for an assembly that references other assemblies may cause several type libraries to be generated at once. You can use the type library to provide type information to development tools like Visual Studio. You should not use the /tlb option if the assembly you are registering was produced by the Type Library Importer (Tlbimp.exe). You cannot export a type library from an assembly that was imported from a type library. Using the /tlb option has the same effect as using the Type Library Exporter (Tlbexp.exe) and Regasm.exe, with the exception that Tlbexp.exe does not register the type library it produces. If you use the /tlb option to registered a type library, you can use /tlb option with the /unregister option to unregistered the type library. Using the two options together will unregister the type library and interface entries, which can clean the registry considerably.
After registering an assembly using Regasm.exe, you can install it in the global assembly cache so that it can be activated from any COM client. If the assembly is only going to be activated by a single application, you can place it in that application's directory.