Term: a word or phrase used to describe a thing or to express a concept 
Concept: an abstract idea. Concepts are expressed by terms. 
Fact: Facts relate terms 
Fact Type: a fact type is an association between two or more concepts
Vocabulary: the body of words used in a particular language or in a particular sphere 
Terminology: the body of terms used in a subject of study, profession, etc. 
Fact Model: A fact model establishes the basis for shared operational business knowledge.  This model is usually graphical and can also be called the business object model or BOM.