Originally answered Jan 13, 2018

Ontology example:

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Taxonomy example:

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According to Bob Bater, “an ontology identifies and distinguishes concepts and their relationships; it describes content and relationships. A taxonomy formalizes the hierarchical relationships among concepts and specifies the term to be used to refer to each; it prescribes structure and terminology.”

According to Patrick Lambe in Defining “Taxonomy”:

  1. A taxonomy is a form of classification scheme
  2. Taxonomies are semantic
  3. A taxonomy is a kind of knowledge map

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