Web Services Policy is used to specify service con- straints. Although many efforts like WS-Policy have been done to provide declarative configuration languages, it is still hard to discover and exchange the configuration infor- mation in the service computing environment. A novel ap- proach to share service knowledge and application-specific information is needed. In this paper, we model web ser- vice policy with corporate knowledge, which is defined as the amount of knowledge provided by individual agents. This approach provides a distributed knowledge manage- ment method to our proposed semantic policy framework that enables reasoning, which is necessary for policy cre- ation, conflicts resolution and negotiation.