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SBVR is a new standard that defines a metamodel for business-layer vocabularies and rules. This paper summarizes SBVR features and argues that the SBVR enables definition of true ontologies. The paper also summarizes experience with a partial SBVR implementation in the context of an existing technique for modeling businesses and transforming the models into implementations. The work contributes to understanding the issues around the integration of business rules with business processes and ontologies. The paper argues that these three should be seen as peer business modeling elements with important and useful inter-relationships.