Inheritance the characteristic of getting certain attributes from something else. For example, when a component is created, by default, it gets or inherits variables, snapshots, and/or procedures from its component type.
This makes the component model much more powerful and flexible. For example, if you have a thousand components that all extend the IIS Application Component Type and you need to add additional functionality to these components you do not need to add it a thousand times, you only need to add it to the base component type that all these components extend. All one thousand components will inherit the change from the component type.