Agents seeking to discover and compose needed Web services may face knowledge sharing interoperability problems due to differing ontologies. In practice, agents may not have a global consensus ontology that will facilitate knowledge sharing and integration of required services. We investigate a method for agents to develop local consensus ontologies to aid in the communication within a multi-agent system of business-tobusiness (B2B) agents. We compare variations of syntactic and semantic similarity matching to form local consensus ontologies with and without the use of a lexical database.