The LIES is a research and education laboratory that provides state-of-the-art product lifecycle management (PLM) system, theory, methodology, and expertise for research, development and application of competence based curriculum and product modeling methodology. The product lifecycle management (PLM) system is an integrated multidisciplinary environment for virtual engineering that represents leading industry level information system for product lifecycle activities of engineers. Emphasis is on requirement, functional, logical, and physical (RFLP) structure based product modeling and representation of active engineering knowledge using applied mathematics and intelligent computing. LIES provides laboratory background of the Institute of Applied Mathematics, John von Neumann Faculty of Informatics and the Doctoral School of Applied Mathematics and Applied Informatics at the Óbuda University in applied mathematics and intelligent informatics.

LIES offers BSc, MSc and PhD courses for deep understanding of firm information technology in current leading PLM.  It serves as competency center for the Dassault Systemes V6 PLM system with the technical assistance of CAD-Terv Ltd. Main future plan is step by step integration of all education and research activities into a public virtual engineering space (VES) at the Óbuda University in order to establish a 21st century engineering environment.

After LIES founding in 2005 and the preceding fifteen years before this founding, hundreds of publications were revealed about research in product modeling. Research results are published at annual conferences of the IEEE SMC and IES Societies  and other important international conferences. More than hundred items in the IEEE Xplore, a monograph, and numerous book chapters and journal papers established international recognition to  LIES.