Knowledge capture, knowledge integration and knowledge delivery are the essential parts of dynamic knowledge management. E-Learning is considered to be an integral part of knowledge delivery system. Information architect plays an important role in developing the system, and are primarily responsible for capturing and modeling knowledge from various Information sources as a part of eLearning. A mind map is a diagram used to represent words, ideas, tasks or other items linked to and arranged around a central key word or idea. It is possible to build and visualize a graphical representation of ontology with various mind mapping software tools to some extent since they (mind map and ontology) both deals with concepts and form a network. However, present mind mapping tools are not capable of drawing or defining an ontology perfectly and completely. In this paper, we present a brief description on the role of mind map and ontology in e-learning, the deficiencies of mind map and review the mind map and ontology building tools. The purpose for reviewing ontology building tools is to determine the toolkit most suitable for ontology creation, editing, and mind/concept mapping from the view points of Information Architects (IAs) who play a significant role in designing knowledge management systems. The paper also gives a fundamental understanding of ontology tools available on the market as open source products as well as commercial products in terms of their capability, availability, enhancement and further development. We provide a ranked list of the tools based on our needs and suitability for the IAs.