Merrow border is commonly used on regular shapes, such as circles and squares, and is applied once the design is completed. The adhesive backing doesn't cover the edge of this type of border.
Emblems without borders are flatter at the edge, and the adhesive on the back of the emblem prevents the thread from fraying.
Sewn-on border without the overlap section of the merrow border. In this case, the adhesive backing of the emblem also covers the edge of the border.
Satin gives the border a flatter appearance, blending with your design and your garment.