Common Noun: When "Live" refers to a specific type of performance or broadcast, it becomes a common noun. For example:
* "We went to a live concert."
* "The news is being broadcast live."
Verb: When "Live" describes an action, it's a verb. For example:
* "We live in a small town."
* "The band will live on in our hearts."
Important Note: "Live" is not a proper noun. Proper nouns are specific names of people, places, or things (e.g., John, London, Facebook).