Systems and methods for announcing and locating services that are shared in a distributed manner within a peer-to-peer packet-based network are provided. One or more network devices maintain a copy of a particular service and the service is shared by any network device in the network that requires the service. Network devices maintain lists of what services are available on the network as well as where the services are located. When a particular service is desired, the network device consults the lists and is able to request acquisition of the service from any network device known to host the service, either locally or on a remote network device. Service location functionality is also capable of allocating resources and/or services in the network based on statistical information gathered and maintained regarding service use in the network.