which is an elaboration of
https://en.wikipedia.org/wiki/Dynamic_Data_Exchange
A common use of COM was scripting with Visual Basic in the 1990s, for instance, ask Excel what is in cell B7, or dynamically load a GUI component out of a DLL and script it into a Visual Basic application.
This blends the boundaries between applications in that you might have a Word document that has an Excel spreadsheet embedded in it, and it really does boot up Excel and has Excel render itself in a rectangle inside the Word document.