Large industrial interoperability projects use syntax-based Enterprise Application Integration standards, such as XML Schema, to accomplish interoperable data exchange among enterprise applications. In this paper, we describe an approach to assess the potential impact of Semantic Web technologies on these standards and on testability of integration results when using these standards. The experimental approach includes an automated translation of an XML Schema-based representation of business document content models into an OWL-based ontology. Based on this ontology, we use the Semantic Web representation and reasoning mechanisms to validate ontological constructs and constraints in support of data exchange. We demonstrate novel model-based integration capabilities that go beyond the existing syntax-based approaches. These new capabilities are relevant when managing multiple enterprise ontologies derived from a common ontology.