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John Sowa (probably the foremost expert on knowledge representation) gives a thorough discussion of the subject here: Sowa


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You are probably speaking about something like a process ontology. Lately, that research has focused (moved?) on semantic workflows, e.g. to model processes in science, related with reproducibility. Similarly, we can also find the application of ontologies to business processes. For more classical (lower level?) approaches, you may be interested in the ...


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