| Comment Number: | 522418-00474 |
| Received: | 6/2/2006 8:42:17 AM |
| Organization: | Complete Identity |
| Commenter: | Michael Magolnick |
| State: | FL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
The proposed Business Opportunity Rule needs a LOT of work. If the overall purpose was to prevent fraud then I am all for it, however the proposed Rule as a whole undermines the foundation on which every American has a right to make their own decisions to start a personal business and get it up and running immediately. The Rule suggests that people are not intelligent enough to make their own decisions about getting into business and what products and services to sell, which is contrary to the rights that we enjoy as citizens in this free nation. It is no more the FTC's responsiblity than it is mine to protect people from themselves and not allow them to get a new business up and running when they want to do it. If the FTC wants to protect people from fraudulent activity then do it without hurting the companies that provide opportunity. This Rule could have a seriously adverse affect on new businesses, which could in turn hurt the economy quite a bit. The consequences of an imposed Rule such as this could be catastrophic to home-based and small businesses. Very careful consideration needs to be taken BEFORE imposing a Rule like this. Consider the ramification of a Rule that hinders someone's ability to start a new business as well as allow legitimate businesses to grow in the way they've been accustomed to for years. Consider modifying the Rule to simply address issues of fraud as they happen and not as a preventative, which would have significant consequences.