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In this paper we discuss the nature of our overall enterprise tocreate ontologies in the product and service knowledge space forBusiness-to-Business (B2B) electronic commerce. We describe onecrucial problem: the mapping problem, i.e., mapping amongontologies, taxonomies, and classification systems, some of whichare more semantically sound and coherent than others. This problemwe consider to be in need of a sustained research program iftenable solutions are to be found, since the lack of a solutionwill preclude widespread adoption of ontologies by the commercialworld. Finally, we summarize the general issues we faced andindicate prospective future research.