The aim of this paper is to investigate the role of Business Models (BM)Ontologies as a conceptual tool for the cooperation of subjects interested in achieving a common goal and operating in complex and innovative environments. Through an extensive literature review on BM authors selected the most suitable conceptual tool and studied its application to the LD-CAST project during a participatory action research activity in order to analyse the BM design process of a new organisation based on the cooperation of service providers (the Chambers of Commerce from Italy, Romania, Poland and Bulgaria) with different needs, legal constraints and cultural background.