Try these in the this order:
1) Check what changes you have made in the project before you started having this problem.
2) Try removing the component from the form, and remove its reference fromt the Controls. Save and exit
VB. StartVB, add the component again.
3) is that a legally purchased component? See if you can write a "minimal" project that replicates the proble, and send it to the vendor.
Let us know.
Marco