OWL Lite is a simplified version of the Web Ontology Language (OWL), designed for creating and sharing ontologies on the web. It provides a basic framework for defining classes, properties, and relationships between them, making it easier for users to model knowledge without needing extensive technical expertise. This lightweight ontology language supports essential features like class hierarchies and property constraints, allowing users to represent information in a structured way. OWL Lite is particularly useful for applications that require straightforward semantic web capabilities, enabling better data interoperability and understanding across different systems.