Projects are the files that you work with in Logic Pro. The file extension of a Logic Pro Project is .logic and it contains MIDI events, parameter settings, information about the audio and video in your project, and edits to your MIDI and audio. A Logic Pro project does not contain any audio or video but contains references to audio and video on your hard drive.
When a project is created, it is placed inside of a project folder along with sub-folders that contain recorded audio, project file backups, and sometimes other folders for samples, video, and other project assets.
You can decide to save projects with or without its assets. The benefit to saving without assets is to conserve hard drive space. The downside is that it can be easy to delete assets the project is dependent upon. With hard drive space being increasingly cheaper to buy, it probably makes the most sense to include all assets in your project folder. This makes it easier to organize, move, and archive projects.
- The Complete Logic Pro