I have gotten so far that I understand entity objects have an ID while value object have not, but in the most common example you have the person entity that have a address value object attached to it. What is the big advantage of creating a separate address object instead of just keeping the address properties within the Person Entity?
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In addition to the things already mentioned, Greg Young makes a big deal out of the fact that since they are immutable, you can validate them on creation and never worry about validation again. If the state cannot be changed, then you know it’s always valid.