Software and embedded system companies today encounter problems related to requirements management tool integration, incorrect tool usage, and lack of traceability. This is due to utilized tools with no clear meta-model and semantics to communicate requirements between different stakeholders. This paper presents a comprehensive meta-model for requirements management. The focus is on software and embedded system domains. The goal is to define generic requirements management domain concepts and abstract interfaces between requirements management and system development. This leads to a portable requirements management meta-model which can be adapted with various system modeling languages. The created meta-model is prototyped by translating it into a UML profile. The profile is imported into a UML tool which is used for rapid evaluation of meta-model concepts in practice. The developed profile is associated with a proof of concept report generator tool that automatically produces up-to-date documentation from the models in form of web pages. The profile is adopted to create an example model of embedded system requirement specification which is built with the profile.