novhk (pronounced “invoke”) calls itself “The First Community-Managed Eco-Friendly Surf-Inspired Clothing Company.” The Los Angeles-based cooperative has been recruiting members since December and, with over 2800, is set to launch on June 5. For $50/year, members will help make major business decisions using a web-based community platform. 35% of profits will be distributed to members in the form of merchandise credit, with the rest being used for reinvestment and charitable donations.

It is unclear how involved members will actually be. Merchandise credit is not as enticing as cash. And, there is no incentive scheme to reward those who contribute more to the business.  Still, this is a fascinating business model that combines principles of crowdsourcing, crowdfunding, and social responsibility. Could it be a model for the future?