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Archive for ‘March, 2015’

Two terms worth $680,000

I was at the OMG technical meeting in Reston, VA, last week. One evening in the bar I was talking to some friends active in finance and ontology, about a High Court judgment in England, in April 2014. The judgment was in favour of Greenclose, a privately-owned hotel group, and against National Westminster Bank PLC (NatWest). It was based on the definitions of two terms – electronic messaging system and giving notice to – in a standard, widely-used contract. The judgment was worth £456.000 ($680,000) to Greenclose. It caused something of a stir in the derivatives world. I thought that


Welcome to Governance Authors. We hope that it will grow and be shaped by suggestions from governance authors. We hope that the site – especially the Blog – will grow into a useful space for governance authors to share ideas and experience. Please note that you will need to register if you want to post or comment. We’ve started our Resources page with papers introducing Terminological Dictionaries and OMG’s Semantics of Business Vocabulary and Business Rules (SBVR) and “The Power of Words”, a presentation made to the Object Management Group (OMG) by Kara Warburton, international chair of ISO’s Technical Committee