The web service endpoint usually is defined in an early stage of a project. Since it follows the "contract first" principle, it shouldn't be changed after communicated to client systems.
Therefore, it is vital to label the web service in a good way.
How would you label web services?
e.g.
http://my.domain.com/businessProcess/services/concreteServiceName
Other ideas?
See this question as a poll... Feel free to vote for the best idea.
We decide on names by talking to the developers, business guys, and support guys. We formed a committee called the "interface control committee", and we approach it kind of like you described in the question. We want service names to be descriptive, reflect the processes they support, and fit the needs of the technical and business stakeholders.
When we have ICC meetings, we also talk about schemas and how they should be developed. The business guys are key in this as well since they know what data they want to expose and why.
KA