A method, system and program product developing an annotation lexicon are described. Under aspects of the present invention, annotation(s) to piece(s) of content are received and analyzed using one or more computational analyses. Based on the analyses, feedback will be generated to improve the annotation lexicon and/or the ontology thereof. Such improvement can lead to, among other things: the re-arrangement of interrelationships of terms in the annotation lexicon; the addition, modification or deletion of terms from the annotation lexicon; the re-arrangement or clustering of terms within the annotation lexicon; etc.