Software reuse has been getting the attention of the software industry due to its potential to revamp the software development process. The systematic use of software reuse is practical and the industrial user data shows that it improves the productivity and quality of the software. However there are issues which have been limiting the widespread use of software reuse. These relate to software component representation, its storage and retrieval. This paper presents a new software component representation model based on information retrieval theory and pairs of words. The model can implement a domain independent component library and allows one to use uncontrolled vocabulary and automatic indexing. It can be readily implemented in the existing systems.