Understanding is knowledge conceived in concepts (and also notions as certain species of concepts). As so, knowledge is the result of an act of understanding. The already acknowledged is than utilised for the purposes of further understanding, and virtually the process continues in the same fashion indefinitely. The entire procedure is realised on behalf of concepts. Thus a concept is the medium of understanding, and nonetheless a concept again is the knowledge achieved in result. Any particular concept is apprehended in another concept – hence it is a concept of a concept. Under such conditions, understanding is entirely dependent on the concrete conceptual framework in use, and knowledge ultimately has a relativistic character. And yet, the understanding, the knowledge, the concept of concepts are ontically structured and constructed as certain categories of being in existence which can be known. The ontology of knowledge unveils its own ontic composition. Through this regional ontology, it is in touch with the generic being in existence and is capable to disclose the operation and architecture of the real as such. The ontological knowledge explicates the very procedure of categorical understanding in its various kinds of being in existence, and the vehicle of this understanding is the ontologically granted concepts of knowledge. All concepts are somehow grounded, constructed and connected. The ontological approach informs their grounding in the categories of being in existence, their construction in terms of other concepts, and their connectivity in a definite conceptual system. Everything conceptual is communicated psychologically and socially through the simultaneously revealing and concealing medium of a language, which is again meaningfully grounded, historically constructed and significantly connected.