What is side-by-side execution? Can two application one using private assembly and other using Shared assembly be stated as a side-by-side executable

Side-by-side execution is the ability to run multiple versions of an application or component on the same computer. You can have multiple versions of the common language runtime, and multiple versions of applications and components that use a version of the runtime, on the same computer at the same time. Since versioning is only applied to shared assemblies, and not to private assemblies, two application one using private assembly and one using shared assembly cannot be stated as side-by-side
executables.