This document discusses several real world applications of ontologies and the Web Ontology Language (OWL). It summarizes how ontologies have been used for knowledge capture, formalization and verification, consistency checking, classification, semantic annotation, query formulation and answering, search and co-occurrence, hypothesis testing, and function prediction. Examples discussed include using ontologies for capturing clinical terminology in SNOMED-CT, annotating models in systems biology, classifying protein domains and functions, querying gene expression datasets, and evaluating scientific hypotheses. The document demonstrates how ontologies and reasoning over ontologies enables new capabilities and applications.