Component-based software development is a potential reuse paradigm for the future. In this paper, wernelaborate the idea of developing business components in virtual engineering communities (componentrncommunity). A component community is an inter-organizational form for developing business components. Thernactors of a component community, e. G. Business analyst, component developer, component vendor, reusernmanager, work collaboratively in development projects. We postulate that in a component community it isrnnecessary to describe business components in a standardized way. Such a description has to address severalrnaspects: What services are offered and requested by a business component? How can these services be used?rnAre there any interdependencies between the services of a set of business components? What qualityrncharacteristics do the offered services fulfill? What are the meanings of used concepts? And so on. In thisrnpaper, we present a holistic approach to specify a business component. This approach consists of sevenrnspecification levels addressing both technical and business aspects. Furthermore, we show the application ofrnthis method by specifying a simple business component that deals with German bank codes.
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