Splitting IntelliJ/Maven project into several components

Coming from the C#/Visual Studio world, I can do the following:

1. Create a Solution 'S'
2. Create a new library project 'L'
3. Create a main project 'M'
4. Add a reference to library 'L' into 'M'

-> Whenever I change the code in 'L', I can use the changes in 'M', given that the projects compile sequentially. The library 'L' has its own independent code with its own logic and boundaries, and can be switched later to a web service.

How can I do the same in IntelliJ? ie reference a .JAR created from the same project? Modules? Libraries?

Thanks