The goal of this paper is to provide an annotation scheme for compounds based on generative lexicon theory (GL, Pustejovsky, 1995; Bassac and Bouillon, 2001). This scheme has been tested on a set of compounds automatically extracted from the Europarl corpus (Koehn, 2005) both in Italian and French. The motivation is twofold. On the one hand, it should help refine existing compound classifications and better explain lexicalization in both languages. On the other hand, we hope that the extracted generalizations can be used in NLP, for example for improving MT systems or for query reformulation (Claveau, 2003). In this paper, we focus on the annotation scheme and its on going evaluation.