For sharing and integrating knowledge on the web semantically, Ontology is one of the most significant technologies of the semantic web stack to provide structured information on the web in machine processable format. Ontology has various research issues where Ontology design and representation is the most fundamental. For Ontology design and representation, there are various methods and tools available. One of the crucial Meta model-based approaches is UML (Unified Modelling Language) which is a graphical notational language for ontology design and representation. The UML has been extensively followed through the software engineering network and its scope is broadening to consist of various extra modeling features. In UML, the flow of control and data through the different stages in a procedure is represented by using structural and behavioral notations like in activity diagrams, Use case and class diagrams. In this paper, first Ontology key issues and the role of UML for Ontology design and representation has been explored and discussed. Second, a related literature review of Ontology and UML for Ontology representation has been presented. Third, Ontology creation activities and building stages have been discussed with the help of diagrams along with UML usage and benefits. Fourth, a case study of Banking System has been chosen for Ontology design using UML which includes Use case diagram, Activity diagrams and Class diagram to represent Banking System Ontology.

Ontology, UML, Association, Generalization Aggregation, Use Case Diagram, Class Diagram, Activity Diagram, Banking System, Ontology Design

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