What is the difference between Max for live and Max?

Could you please elaborate on the distinction between Max for Live and Max? Are they separate software applications, or do they share a common platform? What specific features or capabilities does Max for Live offer that might not be present in the standard Max version? Is there a particular audience or use case that Max for Live is tailored towards? Understanding the differences between these two options would help me make an informed decision about which one to use for my projects.