Large limit sketches and topological space objects

For a (possibly large) realized limit sketch $\mathcal{S}$ such that every $\mathcal{S}$-model is small in a suitable sense we show that the category of cocontinuous functors $\mathsf{Mod}(\mathcal{S}) \to \mathcal{C}$ into a cocomplete category $\mathcal{C}$ is equivalent to the category $\mathsf{Mod}_{\mathcal{C}}(\mathcal{S}^{\mathrm{op}})$ of $\mathcal{C}$-valued $\mathcal{S}^{\mathrm{op}}$-models. From this result we deduce universal properties of several examples of cocomplete categories appearing in practice. It can be applied in particular to infinitary Lawvere theories, generalizing the well-known case of finitary Lawvere theories. We also look at a large limit sketch that models $\mathsf{Top}$, study the corresponding notion of an internal net-based topological space object, and deduce from our main result that cocontinuous functors $\mathsf{Top} \to \mathcal{C}$ into a cocomplete category $\mathcal{C}$ correspond to net-based cotopological space objects internal to $\mathcal{C}$. Finally, we describe a limit sketch that models $\mathsf{Top}^{\mathrm{op}}$ and deduce from our main result that continuous functors $\mathsf{Top} \to \mathcal{C}$ into a complete category $\mathcal{C}$ correspond to frame-based topological space objects internal to $\mathcal{C}$. Thus, we characterize $\mathsf{Top}$ both as a cocomplete and as a complete category. Thereby we get two new conceptual proofs of Isbell's classification of cocontinuous functors $\mathsf{Top} \to \mathsf{Top}$ in terms of topological topologies.