The industry foundation classes (IFC) data schema is generic, designed to support the full range of model exchanges needed in the construction industry. For any particular working exchange for some sub-domain of building construction, a set of model view definitions (MVD) is required to specify exactly what information should be exchanged, and in what form and structure the IFC entities are to be used. Defining model view definitions requires principle decisions and workarounds because the IFC itself does not address a number of semantic issues comprehensively. Some of the issues identified and discussed include the typing of objects, instances, geometry, relationships, and rules, which are supported in the IFC schema, and the complexities of exchanging such information accurately between applications. This paper advances the idea of MVD Concepts as an object-oriented and modular mechanism for embedding semantic meaning in model views. We conclude that although the IFC product model schema is richly expressive, it lacks formal definition of its entities, attributes, and relationships. To achieve standardized and re-usable model views, further research towards a modular and logical framework based on formal specification of IFC concepts is recommended. This research is expected to impact the overall interoperability of applications in the building information modeling realm.