I don't see how this is different from a Google doc, where you have one doc owner and you can set permissions so that other people can view, edit, or only leave a comment?
I believe Google Docs keeps all the revisions, so if anyone cares a lot, they could go back and check.
But what I've found with Google Docs is that if someone is making a trivial change (like correcting a typo), they'll just go ahead and make the edit in the doc. If they're suggesting a substantial change, they'll add the suggestion as a comment and let the author decide whether to incorporate it.