]> Formal Organizations Ontology This ontology defines the high level concept of a formal organization, which is purposefully underspecified to facilitate mapping to other organization ontologies, such as the W3C organization ontology, or others defined for specific business and financial services standards. It also defines general concepts related to employment by a formal organization. https://opensource.org/licenses/MIT The http://www.omg.org/spec/EDMC-FIBO/FND/20130801/Organizations/FormalOrganizations.rdf version of this 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/. It was further revised in the FTF in advance of the Long Beach meeting, resulting in http://www.omg.org/spec/EDMC-FIBO/FND/20141101/Organizations/FormalOrganizations/. The http://www.omg.org/spec/EDMC-FIBO/FND/20141101/Organizations/FormalOrganizations.rdf version of this ontology was modified per the FIBO 2.0 RFC to integrate concepts from LCC. The http://www.omg.org/spec/FIBO/Foundations/20130601/Organizations/FormalOrganizations.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/20180801/Organizations/FormalOrganizations.rdf version of this ontology was revised to loosen the constraints on the range of isDomiciledIn, allow for multiple values, update definitions to be ISO 704 compliant, and eliminate duplication with concepts in LCC. The https://spec.edmcouncil.org/fibo/ontology/FND/20200201/Organizations/FormalOrganizations.rdf version of this ontology was revised to incorporate the concept of employment, required to support regulatory reporting. The https://spec.edmcouncil.org/fibo/ontology/FND/20220101/Organizations/FormalOrganizations.rdf version of this ontology was revised to address hygiene issues with respect to text formatting. The https://spec.edmcouncil.org/fibo/ontology/FND/20220701/Organizations/FormalOrganizations.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/20230101/Organizations/FormalOrganizations.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. The https://spec.edmcouncil.org/fibo/ontology/FND/20230301/Organizations/FormalOrganizations.rdf version of this ontology was modified to loosen the domain of 'is domiciled in' to include organization sub-units, such as branches and divisions.

employee person in the service of another under any contract of hire, express or implied, oral or written, where the employer has the right to control and direct that person in the material details of how the work is to be performed employer party that provides compensation, including wages or a salary and potentially other benefits, in exchange for work performed by one or more people, and that has the right to control and direct the employee in the material details of how the work is to be performed employment situation representing the state of being employed, i.e., the relationship that holds between an employer and employee for some period of time This definition does not include workers in contingent arrangements, such as independent contractors, leased employees, temporary employees, on-call workers, and others that do not have a direct contractual relationship with the employer. The distinction is important for legal reasons, particularly for regulatory reporting with respect to responsible parties such as corporate officers, lending officers, others authorized or licensed to perform certain tasks, and traders, for example.

In the broadest sense, employment is the situation in which someone is fully engaged in doing something that they want to do. From a FIBO perspective, however, employment is understood to be more specific. It is the relationship between two parties, evidenced by an implicit or explicit contract, in which work is compensated and in which one party, a legal person, typically a formal organization, acts as the employer and the other, typically a legally capable natural person, as the employee.

formal organization organization that is recognized in some legal jurisdiction, with associated rights and responsibilities Examples include a corporation, charity, government or church.

https://www.w3.org/TR/vocab-org/#class-formalorganization

group collection of agents (people, organizations, software agents, etc.) that are considered as a unit informal organization organization that is not formally constituted in some way employs indicates someone that is employed by the legal person has employed party identifies the employee in an employment situation has employee indicates an employee that is employed by the employer has employing party identifies employer in an employment situation is domiciled in indicates the principal place where an entity conducts business, such as where its headquarters is located

Corporate domicile refers to a place where a company's affairs are discharged. It is also typically the legal home of a corporation because the place is considered by law as the center of corporate affairs. In cases where a business has incorporated in one location for convenience, such as for taxation, legal, or regulatory purposes, but operates primarily in one or more other locations, domicile in FIBO refers to the operational location(s) rather than legal location. Many companies in the US have incorporated in the State of Delaware, for example, but do not have operational facilities in Delaware (or only have small offices there).

is employed by indicates the party (legal person or formal organization) that employs someone is employed in indicates the context of employment in which someone is employed is employee of identifies the formal organization for which the employee works is employing party relates a party in the role of employer to the context of employment