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Business policy reflects way too many things not only restricting what the company should do but also predicting the future direction of the company. It is desirable that the description of business policy can be interchangeable between business descriptions and engineering specifications so that the rules can be integrated into engineering process without further misinterpreting and conflicting. This paper presents our initiatives of a work to investigate and identify suitable ontologies, as well as suitable ontology alignment framework. A set or sets of formal vocabulary will be developed across various ontologies to specify business policy in a way that different levels of business managers, business people and technical people especially engineers can exchange and share business rules without misinterpreting and inconsistency.