example

class MyModel < ActiveRecord::Base; end

# example model has 3 fields guid, name, and description


# find_or_create_by_name

mymodel = MyModel.find_or_create_by_name(params[:name) do |created|
  created.guid = GuidGen.generate
  created.description = params[:description]
end

# find_or_intialize_by_name

mymodel = MyModel.find_or_initialize_by_name(params[:name) do |inited|
  inited.guid = GuidGen.generate
  inited.description = params[:description]
end
mymodel.save if mymodel.new_record?