Communication between engineers, their managers, suppliers and customers relies on the existence of a common understanding for the meaning of terms. While this is not normally a problem, it has proved to be a significant roadblock in the EDA industry where terms are created as required by any number of people, multiple terms are coined for the same thing, or even worse, the same term is used for many different things. This taxonomy identifies all of the significant terms used by an industry and provides a structural framework in which those terms can be defined and their relationship to other terms identified. The origins of this work go back to 1995 with a government-sponsored program called RASSP. At the termination of their work, VSIA picked up their work and developed it further. Three new taxonomies were introduced by VSIA for additional facets of the system design and development process. Since role of VSIA has now changed so that it no longer maintains these taxonomies, the baton is being passed on again through a group of interested people and manifested in this key reference work.