The document discusses Universal Business Language (UBL), which defines a standard vocabulary for business documents in XML format. UBL aims to extend the benefits of EDI to smaller businesses by making it cheaper and easier to conduct electronic transactions over the internet. By providing a common XML format, UBL can enable more interoperability between different business frameworks and applications. The document argues that standardizing XML business documents in this way is key to realizing the goals of web-enabling existing paper-based business practices and allowing businesses to upgrade their systems at their own pace.