Custom Object Properties (C#)

[ErikJohansson]

Hello all.

I have created a custom control:

using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;
using System.Windows.Forms;
using System.ComponentModel;

namespace NewApp
{
    class Application : Panel
    {
        private bool isRunning = false;

        [Description("Is the application running?")]
        [Category("Super Stuff")]
        [DefaultValue(false)]

        public bool IsRunning
        {
            get { return isRunning; }
        }

    }
}

How can I set default values of this control, e.g width, height, backcolor, location?
Since it's a panel, is there a way to add objects to the panel by default, e.g picturebox, textbox?

Thanks!