Abstract
The realist dispute in ethics has wide implications for moral ontology, epistemology, and semantics. Common opinion holds that this debate goes to the heart of the phenomenology of moral values and affects the way in which we understand the nature of moral value, moral disagreement, and moral reflection. But it has not been clearly demonstrated what is involved in moral realist theory. I provide a framework which distinguishes three different versions of the theory while at the same time showing the interrelations between them. I also demonstrate how issues such as objectivity, cognitivism, and truth can be related into the discussion by means of this framework.