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Much of the power of UML for representing business processes comes from the visualizaton forms that it standardizes, e.g. timing diagrams, state charts etc. XML as a syntax can be used to store these diagrams (e.g. the XMI format used by many UML tools). In that sense, XML can be used to represent business processes, but it is important to bear in mind that much of the representation is in the visualization and that this visualization is UML application specific - it is not part of the XMI format.
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