RDF Model Theory Working Draft Published. 14 February 2002: The RDF Core Working Group has released an updated Working Draft of RDF Model Theory. The document provides a precise semantic theory for RDF and RDFS, and sharpens the notions of consequence and inference in RDF. Learn more on the RDF home page, and read about the W3C Semantic Web Activity. (News archive) [The World Wide Web Consortium]

At first glance, this looks very promising.