Some business models want to use the web to share physical. NeighborGoods is using the same idea. The service is launching its public beta program in Los Angeles today.

Now, if you do not own a product but know somebody who does and is sharing it on NeighborGoods, then you can borrow it from them. You need to click a button, fill out a pick up date and time, a return date and time, and then send the sharing request to the person owns the product. If the person who owns the product approves your request, you can get it from him.

NeighborGoods has a “Verified neighbors” concept to keep away shady people from stealing stuffs. When a new user sends NeighborGoods his/her address, NeighborGoods sends a physical mail which contains a special code for you. Once you verify your address, your avatar in the site will get a special red check box. Seeing this, people know that you can be held accountable if you borrow something.

The site also provides a star rating system (there are 3 stars) to show how good of a sharer a person is. There is also a text feedback channel on every profile page for users.

In NeighborGoods you need to declare the value of the item you are sharing. When someone borrows your item it is added to your profile showing that you’ve saved your neighbors X amount of dollars.

Even though, as of the service is totally free, in future it will start charging a yearly fee to users. However, users may not mind it much. Showing the prices of the items you borrowed seems to be a good idea. If borrowing a vacuum cleaner can save an user $100, then the user may not mind paying a yearly charge.