]> Ownership Ontology This ontology defines high-level, equity and ownership-related concepts, based on basic accounting principles as they relate to equity, debt, assets and liabilities of a firm, including owner, asset and ownership along with relationships between them. Copyright (c) 2013-2026 EDM Association dba EDM Council, Inc. Copyright (c) 2013-2025 Object Management Group, Inc. Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the 'Software'), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions: The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software. THE SOFTWARE IS PROVIDED 'AS IS', WITHOUT WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE. See https://opensource.org/licenses/MIT. The http://www.omg.org/spec/EDMC-FIBO/FND/20130801/OwnershipAndControl/Ownership.rdf version of the ontology was modified per the issue resolutions identified in the FIBO FND 1.0 FTF report and in http://www.omg.org/spec/EDMC-FIBO/FND/1.0/AboutFND-1.0/. The http://www.omg.org/spec/EDMC-FIBO/FND/20180801/OwnershipAndControl/Ownership.rdf version of the ontology was modified to revise the definition of Asset using the new CombinedDateTime datatype rather than xsd:dateTime to provide increased flexibility. The http://www.omg.org/spec/FIBO/Foundations/20130601/OwnershipAndControl/Ownership.owl version of the ontology was revised in advance of the September 2013 New Brunswick, NJ meeting, as follows: (1) to use slash style URI/IRIss (also called 303 URIs, vs. hash style) as required to support server side processing (2) to use version-independent IRIs for all definitions internally as opposed to version-specific IRIs (3) to change the file suffix from .owl to .rdf to increase usability in RDF tools (4) to use 4-level abbreviations and corresponding namespace prefixes for all FIBO ontologies, reflecting a family/specification/module/ontology structure (5) to incorporate changes to the specification metadata to support documentation at the family, specification, module, and ontology level, similar to the abbreviations. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to add an explanatory note to ownership (SEC-202). The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to add definitions for tangible and intangible asset, etc., as needed for refinement of the concept of collateral and other loan-specific concepts. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to address hygiene issues with respect to text formatting. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to better align with revisions to the situation lattice. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to incorporate concepts that were originally in the accounting equity ontology into this ontology to improve usability (FND-409) and to add the concept of a portfolio and holding in order to further simplify imports and improve usability and maintenance (SEC-219). The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to integrate the concept of a situation, situational roles, and corresponding relations with the definition of ownership, and eliminate minimum cardinality of 1 in restrictions. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to reflect the move of hasAquisitionDate from relations to financial dates and eliminate circular definitions. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to replace additional content that is now available in the OMG Commons Ontology Library (Commons) v1.2 (FND-389). The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of the ontology was modified to use the Commons Ontology Library (Commons) Annotation Vocabulary rather than the OMG's Specification Metadata vocabulary. The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of this ontology was modified to replace content that is now available in the OMG Commons Ontology Library (Commons) v1.1 (FND-380). The https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Ownership.rdf version of this ontology was modified to use the Commons Ontology Library (Commons) rather than the OMG's Languages, Countries and Codes (LCC), eliminating redundancies in FIBO as appropriate. Copyright (c) 2013-2025 Object Management Group, Inc. Copyright (c) 2013-2026 EDM Association dba EDM Council, Inc. 1 1 asset something of monetary value that is owned or provides benefit to some party Financial Accounting Standards Board (FASB) Statement of Financial Accounting Concepts No. 6, Elements of Financial Statements, paragraph 25. An asset is something that provides probable future economic benefit obtained or controlled by some party as a result of past transactions or events. An asset has three essential characteristics: (a) it embodies a probable future benefit that involves a capacity, singly or in combination with other assets, to contribute directly or indirectly to future net cash inflows, (b) a party can obtain the benefit and control others' access to it, and (c) the transaction or other event giving rise to the party's right to or control of the benefit has already occurred. economic resource capital surplus capital contributed in excess of the par value (stated value) of the ownership interest issued 0 earnings before interest, taxes, depreciation and amortization measure of potential cash flow that excludes the effects of capital structure, taxes and non-cash expenses EBITDA By stripping out the non-cash depreciation and amortization expense as well as taxes and debt costs dependent on the capital structure, EBITDA attempts to represent cash profit generated by the company's operations. EBITDA is not a metric recognized under Generally Accepted Accounting Principles (GAAP). Some public companies report EBITDA in their quarterly results along with adjusted EBITDA figures typically excluding additional costs, such as stock-based compensation. EBITDA is often used as a proxy for cash flow, as it shows how much cash a company can generate from its core operations. However, EBITDA has some limitations, such as ignoring the cost of maintaining and replacing capital assets, and being susceptible to manipulation by excluding certain expenses. financial asset non-physical, tangible asset whose value is derived from a contractual claim, such as bank deposits, bonds, stocks, rights, certificates, and bank balances Financial assets are typically more liquid than other tangible assets, such as commodities or real estate. Financial assets may not cover all assets that might be included on a balance sheet, and do not include tangible, physical assets or intangible assets such as intellectual property. 0 holding owned financial interest consisting of legal or beneficial ownership of an asset or security that confers economic rights on its owner Note that there is no common, broadly accepted definition of the term holding across regulators, either within a single country such as the US, or across national jurisdictions. Typically, a holding may refer to a single asset, such as a piece of real estate, a portfolio of assets, multiple portfolios, and so forth, and may be aggregated over multiple assets. 1 income revenue received during a period of time Income includes cash or cash equivalent(s) received during some period of time in exchange for labor or services, from the sale of goods or property, or as receipts from financial investments. intangible asset identifiable, non-monetary asset that lacks physical substance Intangible assets may include intellectual property, patents, copyrights, trademarks, rights-of-way (easements), brands, organizational abilities (know-how), and data. Intangible assets include assets that may involve a legal claim to some future benefit, typically a claim to future cash. Intangible assets have become an increasingly larger component of the valuation for all companies, from newer social media companies to even the most established and iconic manufacturers. owner party that is legally recognized as having the right to possess, the privilege to use, and ability to transfer any rights or privileges associated with something, as permitted by law 0 owners' equity owners' share in a business plus operating profit Barron's Dictionary of Banking Terms, Sixth Edition, 2012. Owner's equity is represented by capital investments and accumulated earnings less any dividends or other financial obligations. It is typically used to talk about equity in a business, but may also refer to the net assets of a pool or special purpose vehicle. capital contributed capital equity net worth ownership situation in which some party holds the legal title to something (explicitly or implicitly) and has the right to transfer that title and/or possession Ownership is the right to possess, use, sell, donate or give as a gift any asset or property belonging to a person known as the 'owner'. An owner can be either a beneficial owner or a legal owner. paid-in capital assets received from investors in exchange for an ownership interest physical asset tangible asset that has a material form, such as property, equipment, and inventory Physical (tangible) assets are real items of value that are used to generate revenue for a company. 1 portfolio collection of holdings assembled and maintained as a unit for management purposes to achieve strategic objectives http://www.investopedia.com/terms/h/holdings.asp http://www.investopedia.com/terms/p/portfolio.asp The holdings of any given portfolio may include a variety of investment products, including stocks, bonds and mutual funds to options, futures and exchange-traded funds, and relatively esoteric instruments such as private equity and hedge funds as well as other assets of the owner, such as interests in real estate, art, or vehicles. With respect to financial assets, the number and nature of holdings contribute to the degree of diversification of a portfolio. A mix of stocks across different sectors, bonds of different maturities, and other investments would suggest a well-diversified portfolio, while concentrated holdings in a handful of stocks within a single sector indicates a portfolio with limited diversification. retained earnings net profits kept to accumulate in a business after dividends are paid If the corporation takes a loss, then that loss is retained and called variously retained losses, accumulated losses or accumulated deficit. Retained earnings and losses are cumulative from year to year with losses offsetting earnings. shareholders' equity equity that is manifested in the form of shares in an entity, fund or structured product tangible asset asset that is a physical, measurable resource, i.e., one that takes a physical form Tangible assets include cash, cash equivalents and accounts receivables (AR), inventory, equipment, buildings and real estate, crops, and investments. Tangible assets such as art, furniture, stamps, gold, wine, toys and books of significant value may be included in an individual or organization's asset portfolio. has acquisition price has a value as of the date of acquisition, expressed as an amount of money, other financial assets, or goods has owned asset indicates the asset in an ownership situation has owning party identifies the actor that holds title to the asset in an ownership situation is asset of identifies the owner of an asset is owned asset indicates the context of ownership in which something is an asset is owned by indicates something that someone owns is owning party indicates the context of ownership in which the party plays the role of owner owns indicates something that a party holds title to and may possess owns asset identifies an asset that an owner owns