When compiling with /MD, a reference to "func" in your source becomes a reference "__imp__func" in the object since all the run-time is now held within a DLL. If you try to link with the static libraries LIBC.LIB or LIBCMT.LIB, you will get LNK2001 on __imp__func. If you try to link with MSVCxx.LIB when compiling without /MD you will not always get LNK2001, but you will likely have other problems.