The term “Business Model”started to gain momentum in the early rise of the new economy and it is currently used both in business practice and scientific research. Under a general point of view BMs are considered as a contact point among technology, organization and strategy used to describe how an organization gets value from technology and uses it as a source of competitive advantage. Recent contributions suggest to use ontologies to define a shareable conceptualization of BM. The aim of this study is to investigate the role of BM Ontologies as a conceptual tool for the cooperation of subjects interested in achieving a common goal and operating in complex and innovative environments. This is the case for example of those contexts characterized by the deployment of e-services from multiple service providers in cross border environments. Through an extensive literature review on BM we 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.