Entrepreneurs with a good idea for a web or iPhone application to develop can look for a team of co-founders with the necessary complementary skills using FairSoftware. This site makes it possible to find developers, graphic designers and other team members. The aim is to motivate the team by sharing revenue, and as this is a business partnership the venture can be started without raising finance to pay staff.

It works by using shares assigned to each team member and to pay new members as they are taken on and assigned tasks. This represents virtual currency which can be monetized once the business starts to make income, with each member receiving an amount based on the number of shares they own. If the business is sold or acquired the same method is used to divide the proceeds. The site answers the worries people will have about what to do with partners they take on who prove unsatisfactory, and how to be sure this can be done without financial loss or the risk of people taking the code for a design.

FairSoftware handles the complex issues of shares and division of share revenue and monitors the process. The deal made between team members can move on to the next stage with the formation of a real company. Once the product is developed it can be sold through the application store with revenue divided automatically according to the rules specified in the deal between partners. A look through the site shows that it has attracted entrepreneurs with ideas looking for developers, graphics designers, engineers, testers and financial officers. It will be interesting to see if this approach will appeal to people with the necessary skills to take a design idea forwards.