| Comment Number: | 522418-04443 |
| Received: | 6/26/2006 10:21:28 PM |
| Organization: | |
| Commenter: | Marcy Mitchell |
| State: | CO |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I have been a business owner for the past several years, have enjoyed full time ownership, and am very concerned about how the current proposal will affect my livelihood in the future. While I applaud your efforts in trying to regulate scams and other false opportunities, the FTC is also penalizing the honest opportunities. More specifically, while I am in favor of informing a prospect of all aspects of an opportunity, I disagree with the extensive requirements of this proposal. I believe the 7-day waiting period is a bit excessive and could adversely effect our business. One alternative would require companies to offer a money back guarantee of at least 30 days. Our manufacturer allows a person 6 months, which is more than enough time to fully understand the opportunity. Additionally, I disagree with listing all legal allegations. In today's world of lawsuits, no honest company can ever escape the potential for individuals trying to sue for false reasons. Under this rule, does this mean that Walmart will be required to post all legal challenges before allowing someone to shop? How about GE before anyone can purchase an appliance? I believe that dishonest companies should be shut down by the FTC, but only after they can verify that the complaints are justified. I support the policy that companies should provide income disclosures, but I totally disagree that each prospect should be given 10 contacts as well as financial records. By going to these lengths, the FTC is automatically putting a shadow across all companies no matter how many people they have helped or how honest a business. I have found in this industry that those individuals of great character, that honestly want to help others, are the ones that succeed. By implementing the 7-day waiting period, listing all legal challenges, requiring references, and requiring that every income be substaintiated, you will actually hurt more good people. The companies that give business opportunities a bad name are already already violating other FTC policies of false misrepresentations, income disclosures and claims. These new regulations will not stop those who are abusing the system, it will only penalize those honest companies that have a history of helping others.