In the state of art innovation processes different domain-specific products or subsystems are integrated into single systems, resulting in the engineering of multidisciplinary smart products. Through the integration of different disciplines and stakeholders, value chains are more and more transformed into complex value-creation networks for the development of these new product. These interdisciplinary innovation processes need to be supported regarding collaboration and especially knowledge-based collaboration by considering existing expert knowledge of different engineering domains. Knowledge sharing can tremendously impact the progress and success of innovation processes and help to overcome these upcoming challenges. A knowledge base and a supporting knowledge network are required to enable knowledge sharing across value creation networks. This paper introduces a smart product domain ontology that will support knowledge networking within an existing knowledge base. The knowledge base uses a multi-level tagging approach to create a network of different knowledge models, which needs to be supported by an automatic ontology-based networking. Based on these requirements, an analysis of various existing smart products and ontologies is conducted to develop a new ontology in the Protégé ontology-editor that considers and integrates previously defined ontologies for microelectronics. The main focus of this approach is the support of knowledge sharing by enabling enhanced knowledge networking. The ontology will be validated by using it as an application ontology with the validation use case automotive wireless smartphone charging.