Controlling Background invisibilty of Picturebox

When an image is added to a picturebox in C# Visual Studio 2005 and its background is set to transparent, the background of the picture box does not inheret the color of the object it was placed on, but rather the background of the form. A report must be complied of how to set the background of a picturebox to transparent in Visual Studio 2005, while making the background of the object it was placed on visible, not the Windows form. Use the attached image for testing. ## Deliverables 1) Complete and fully-functional working program(s) in executable form as well as complete source code of all work done. 2) Deliverables must be in ready-to-run condition, as follows (depending on the nature of the deliverables): a) For web sites or other server-side deliverables intended to only ever exist in one place in the Buyer's environment--Deliverables must be installed by the Seller in ready-to-run condition in the Buyer's environment. b) For all others including desktop software or software the buyer intends to distribute: A software installation package that will install the software in ready-to-run condition on the platform(s) specified in this bid request. 3) All deliverables will be considered "work made for hire" under U.S. Copyright law. Buyer will receive exclusive and complete copyrights to all work purchased. (No GPL, GNU, 3rd party components, etc. unless all copyright ramifications are explained AND AGREED TO by the buyer on the site per the coder's Seller Legal Agreement). ## Platform windows