6.4 Building a fact model 155 another hyponym of loan product. Someone else points out that there are chattel mortgages as well as real estate mortgages. Do we add each of them as a hyponym of mortgage product or do we replace mortgage product by real estate mortgage product and chattel mortgage product? And so on. 6.4.2 Top down The "top down" approach builds the taxonomy easily (provided you have a place to start) but requires care in the choice of terms. Some of the issues that need to be considered when choosing terms are discussed in Section 6.2.1. As for starting points from which to develop the taxonomy, I've found it useful to get stakeholders to consider the different lifecycles that objects exhibit. For example, 1. some objects would have needed to be mostly in place before the organization started business (with some occasional addition or modification once business got under way): for example, a. services and products, b. pre-existing parties, such as organization unit, regulatory body, c. categorization schemes, such as customer type, transaction type, d. other reference sets, such as country, currency, state, language; 2. some objects come into being as the organization does business, with instances that are generally long-lived: for example,