ASP.NET Dynamic Data is a framework that lets you create data-driven ASP.NET Web applications easily. It does this by automatically discovering data-model metadata at run time and deriving UI behavior from it. By default for a Dynamic data Web Application
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Read the complete post at http://blogs.iis.net/webdevelopertips/archive/2009/03/27/tip-45-did-you-know-how-to-change-the-dynamicdata-folder-location.aspx