Real-time- Edit live EtherPad

I've been reading about a trend in applications called Real-time. It denotes an application that has a usage right now live. These applications can save time and simplify tasks especially if you are working online collaboratively.
With Etherpad you create your own pad and can work with up to 8 people. From their site,"When multiple people edit the same document simultaneously, any changes are instantly reflected on everyone's screen. The result is a new and productive way to collaborate." The upside is there's no sign in; the downside it's out there and anyone could see your work. Of course, if you really want a private network it's $49 per user.
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