we have analyzed the knowledge management aspects of an e-commerce system, through the integration of knowledge functions with the realities and potential capabilities of e-commerce. To achieve this goal we gave discussed the three fundamental functions of knowledge management: knowledge acquisition, transfer and applications and showed how these functions become the basis of e-commerce system adaptivity. We have offered a number of perspectives on the knowledge in the system, as well as some possible positions from which this knowledge may be applied to both system-side and customer scenarios. Furthermore, these perspectives allow us to reconcile the many different views of e-commerce and knowledge in e-commerce, on the level of human analysis as well as that of implementation. Some of these views may be explicitly codified into ontologies and utilized in manipulating the knowledge and knowledge functions in the system. These ontology-perspectives allow the same low-level knowledge, gained from a variety of sources (such as human experts, data mining and automatic learning) to be approached in such a way that the necessary elements are related in a manner most useful for the task at hand