Var Maus: Boolean;
    OffX, OffY: Integer;

procedure TForm1.Label1MouseDown(Sender: TObject; Button: TMouseButton;
  Shift: TShiftState; X, Y: Integer);
begin
  Maus := True;
  OffX := X;
  OffY := Y;
end;

procedure TForm1.Label1MouseUp(Sender: TObject; Button: TMouseButton;
  Shift: TShiftState; X, Y: Integer);
begin
  Maus := False;
end;

procedure TForm1.Label1MouseMove(Sender: TObject; Shift: TShiftState; X,
  Y: Integer);
Var MyLabel: TLabel;
    FormKoord: TPoint;
begin
  If Maus Then Begin
   MyLabel := Sender As TLabel;
   FormKoord := ScreenToClient(MyLabel.ClientToScreen(Point(x,y)));
   MyLabel.SetBounds(FormKoord.x-OffX,FormKoord.y-OffY,MyLabel.Width,MyLabel.Height);
  End;
end;