To realize a truly collaborative product design and development process, effective communication among design collaborators is a must. In other words, the design intent that is imposed in a product design should be seized and interpreted properly; heterogeneous modeling terms should be semantically processed both by design collaborators and intelligent systems. Ontologies in the Semantic Web can explicitly represent semantics and promote integrated and consistent access to data and services. Thus, if an ontology is used in a heterogeneous and distributed design collaboration, it will explicitly and persistently represent engineering relations that are imposed in an assembly design. Design intent can be captured by reasoning, and, in turn, as reasoned facts, it can be propagated and shared with design collaborators. This paper presents a new paradigm of ontology-based assembly design. In the framework, an assembly design (AsD) ontology serves as a formal, explicit specification of assembly design so that it makes assembly knowledge both machine-interpretable and to be shared. An Assembly Relation Model (ARM) is enhanced using ontologies that represent engineering, spatial, assembly, and joining relations of assembly in a way that promotes collaborative assembly information-sharing environments. In the developed AsD ontology, implicit AsD constraints are explicitly represented using OWL (Web Ontology Language) and SWRL (Semantic Web Rule Language). This paper shows that the ability of the AsD ontology to be reasoned can capture both assembly and joining intents by a demonstration with a realistic mechanical assembly. Finally, this paper presents a new assembly design information-sharing framework and an assembly design browser for a collaborative product development.