Component Based Development (CBD) promises a large step forward in the quest for maximizing reuse in software development. Although a variety of definitions of CBD exist, key to CBD us the process of building systems by way of combination and integration of pre-engineered and pre-tested software components. For CBD to be the long awaited breakthrough in software development, the efficient reuse of software components has to be organized by a market system. Organizations may benefit from organizing an internal component market. Software components can then be reused over multiple projects saving valuable resources (Udeli, 1994). However, the most appropriate marketplace to buy and sell components would be the Internet: an international, freely accessible network, which is perfectly suited for offering, promoting and distributing components (Bandini et al., 2002) Developer would only need to focus on functionality specific to the project, and on locating and integrating available components. Industry watchers have predicted huge growth figures for the software component market. The research described in this article contains the basic characteristics of the component ware, the required interfacing formalities of these components (Bandini et al 2002). The paper also gives detail information on the Description techniques, which will be utilized in these components.