Novation Launchkey 49 MK3 USB MIDI Keyboard Controller (49-Key) - Manual (Page 23)

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2.5 Transport Functions
The MIDI Buttons shown below provide key functionality for performing and recording with Ableton
Live.
2.5.1 Play - Pressing this button will initiate playback of the track.
2.5.2 Stop - Pressing this button will stop playback of the track.
2.5.3 Record - Pressing this button triggers Session Record while in Session Mode. This will allow you
to record what you’re playing to new clips as well as overdub existing clips.
2.5.4 Loop - Triggers Ableton’s Loop Switch