Take the following example of a solution:
I decide to add a new console application called MyProject.Console. I reference the MyProject.Core into this console application. Everything is working fine until I try to build and run the console application. I get a error saying “Could not find the referenced Assembly.”.
I figured out that when I created the new console application in Visual Studio 2010 it defaulted to .NET 4 Client Profile as the framework and not .NET 4. This is because all my other projects were using the .NET 4 framework.