This video from Danny Bonnici is a good quick reminder on how to Flatten a Frozen track and archive a project for later use or to send to someone to remix. Whenever I am 100% finished with a song I do exactly this process, zip the project folder and save it in a few places. Remember a few years, computers, DAWs and Operating Systems down the road chances are some of your plug-ins won’t work. Convert them to audio before it’s too late.
“When tracks are frozen, the audio les that are created are 32 bit, which ensures that they will not be lower quality than the audio heard prior to freezing. Please note that the Flatten command replaces any original clips and devices with the audio les created by freezing.” – Ableton Live User Manual
For more info: ableton.com