The ubiquity of the Internet offers far reaching opportunities for emerging Web applications. Separate businesses may be linked into a virtual enterprise that provides a one-stop shop for users. However, there is no model available for managing electronically accessible services (e-services) in a systematic manner which make them easy to compose and deploy. Our research proposes to address the fundamental issues related to fast and scalable composition of eservices in Web-based environments. We propose novel concepts for integrating a large number of dynamic and loosely coupled services. Another distinctive feature of our approach is the peer-to-peer collaborative execution of services.