sharing library across multiple web applications

I have a jar file that can be invoked by multiple web apps, and I am trying to
figure out where to put it.
In Tomcat there is a shared folder where I can put it...I do not see any such
option in WebLogic. It looks like I have to modify system classpath and put my
jar file location so that different web apps can access it.
Is there another alternative? Is there any folder where I can put my jar files
and have it accessible to all web apps, like in Tomcat?
The classloader hierarchy in Weblogic does not seem to allow me to do that, but
I wanted to be sure.

Thanks