Ontology Engineering: The ontology engineering consists of ontology development process, methods, tools and techniques to develop ontologies. The ontology development processes comprises of two types of processes; pre-development processes and post-development processes. The pre-development processes consist of processes used to develop ontology such as specification, conceptualization, formalization, integration and implementation. The specification process deals with purpose and scope of ontology which specifies the purpose (why the ontology is being built) and scope (the ontology will be used by whom? And what are its intended users). The conceptualization phase deals with capturing the real world model of a given domain in informal way. The formalization process transforms the conceptual model in a formal model. The integration phase integrates different ontologies. The implementation phase actually implements the formal model in a particular ontology language in machine readable format so that reasoning can be performed. The post-development activities deal with the maintenance and managerial activities.