In this paper we present a progress report of the OntoWordNet project, a research program aimed at achieving a formal specification of WordNet. Within this program, we developed a hybrid bottom-up top-down methodology to automatically extract association relations from WordNet, and to interpret those associations in terms of a set of conceptual relations, formally defined in the DOLCE foundational ontology. Preliminary results provide us with the conviction that a research program aiming to obtain a consistent, modularized, and axiomatized ontology from WordNet can be completed in acceptable time with the support of semi-automatic techniques.
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