In addition to what others have said here: A good source control system that can handle merging would also solve this problem. You can have multiple developers working on the same file and then merge the changes when the updates are committed. Assuming the changes don't overlap the same lines of code merge checkins are an easy way to share and have multiple developers work on the same base code.
Subversion or Vault are two that I've used that support this model of source control (unlike SourceSafe's required checkouts).
But I agree with Mike - if more than one developer is working on that single class there's probably a workflow or design issue that can be addressed to avoid this sort of overlap.
+++ Rick ---
>Hi,
>We have 3 developers in a team. We need to work on the same class but different method in a project.
>
>What is the best approach to do this? Should we allow multiple checkout of source control or other better ideas?
>
>Thank you