The advantage of the Full version of OWL is that you get the full power of the OWL language.
The
disadvantage of the Full version of OWL is that it is difficult to build a Full tool.Also, the user of a Full-compliant tool may not get a quick and complete answer.
DL/Lite:
The advantage of the DL or Lite version of OWL is that tools can be built more quickly and easily, and users can expect
responses from such tools
to come quicker and be more complete.
The disadvantage of the DL or Lite version of OWL is that you don't have access to the full power of the language.