(1) Taxonomies: An Important Part of the Semantic Web - The new Web entails adding an extra layer of infrastructure to the current HTML Web - metadata in the form of vocabularies and the relationships that exist between selected terms will make this possible for machines to understand conceptual relationships as humans do.
(2) Defining Ontologies and Taxonomies - Ontologies and taxonomies are used synonymously -- Computer Scientists refer to hierarchies of structured vocabularies as "ontology" while librarians call them "taxonomy."
(3) Standardized Language and Conceptual Relationships - Both taxonomies and ontologies consist of a structured vocabulary that identifies a single key term to represent a concept that could be described using several words.
(4) Different Points of Emphasis - Computer Science is concerned with how software and associated machines interact with ontologies; librarians are concerned with how patrons retrieve information with the aid of taxonomies. However, they're essential different sides of the same coin.
(5) Topic Maps As New Web Infrastructure - Topic maps will ultimately point the way to the next stage of the Web's development. They represent a new international standard (ISO 13250). In fact, even the OCLC is looking to topic maps in its Dublin Core Initiative to organize the Web by subject.