There is an increasing pressure on the fisheries to avoid bycatch and discards. In the EU this is seen in landing obligations in the new Common Fisheries Policy. The European fisheries are thus under pressure to be highly selective both in adjusting catches to the individual or collective quota combinations and to be size selective in order to optimize the economic outcome of the available quota. This paper proposes a strategy of time-place selectivity by sharing real-time data and information between vessels about areas with high abundance of unwanted species and sizes (hotspots). The paper examines use of time-place regulation, risks/benefits of sharing knowledge and experiences from a previous real-time information sharing system as a basis for developing the four models for fisher's sharing of information. The models differ with respect to data and information collection methods, who owns and accesses the data and hotspot warnings. The models are tested through a discussion of the possible application of the models in the context of the nephrops trawl fishery in Kattegat and Skagerrak. Based on this the models are proposed as possible tools for the fishing industry and managers when adjusted to specific local conditions, and a recommendation for policy support of development of information sharing systems is outlined.