The party leader is able to access all of the party members' quests, and select a quest for the team. That sets the way point on everyone, and displays the quest in the Quest Log under a category named "Party Quests". No EXP or reward is given to the members that help complete the quest other than the EXP that is gained along the way.
*Possibility for a 'Helping Hand' Title.
Party Quest
2wiSteD
OhCrapLions
I do believe this is what ANET is trying to do for GW2 and possibly GWEN. This is a step in the right direction I think.
/signed
/signed