The Own Term module grew out of the need to create blogs that were more flexible than the standard blog that comes out of the box with Drupal, particularly:
We wanted blogs to have a name different than the user who wrote them.
We wanted to include other things than blog nodes in a blog stream, such as polls.
We wanted a blog that more than one person could contribute posts to.
After some thought, it occurred to us that really, all a blog is is a collection of nodes. And if you want to collect a bunch of nodes together, then taxonomy seems to be the best way to start. They've even got taxonomy out of the box.
When you enable ownterm you need to set up a vocabulary which is set up for ownterm by clicking on the 'Enable Ownterm' checkbox in the vocabulary's edit page, and this should be an empty vocabulary to start with. After that you need to give at least the 'create and edit term' permission to authenticated users.
The TVI (Taxonomy Views Integrator) module allows selective overriding of taxonomy terms and/or vocabulary with the view of your choice. Using TVI you can easily create custom views to output all terms in specific vocabularies.
TVI will try not to interfere with views or taxonomy/term page displays if no TVI views exist for the current page request.