| Comment Number: | 522418-05670 |
| Received: | 7/2/2006 11:12:20 PM |
| Organization: | TEAM RSO |
| Commenter: | Ross Stone |
| State: | CA |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Federal Trade Commission This is in reply to your proposed 'Trade Regulation Rule on Business Opportunities'. Your proposal, as it now stands, seems a little like going hunting for duck with a gattling gun. Rather than concentrate on the issue of illegal business opportunities, the proposal treats all opportunities as 'guilty' until they prove themselves 'legal - or not guilty'. Surely this is not the basis upon which our legal system is based. Specifically, I would agree that each prospect for any business be givern honest and clear information upon with they could make an informed decision. The 'seven days grace' period only inhibits the growth of any business. Make it a provision that the Corporation to which the initial monies are paid to join would guarantee the return of monies spent to join, should a change of mind occur. Note: with Quixtar.com, this is already the case. Asking me to give a list of 'references' for a prospect to call could be seen as an invasion of privacy. I know that I would not want to be receiving calls repeatedly in which the caller would no doubt ask personal questions, many not relevant to the business. Tie this in with your proposed requirement that we substantiate every income claim would be akin to asking current members to divulge information found only on their W-2 forms. Again, personal information. The Corporation could very easily give yearly statistics on the average income of the various levels one might hit. As for listing legal allegations - against current members, past members, and the Corporation is fruitless! Do you know of any business currently branded 'honest' by the FTC that has never been sued? Heck, getting sued is part of the American culture - and for the most part has little to do with honesty - all to do with the gain of money. In review of my feelings, your rules should create a level playing field with clear and concise rules, and a standard disclosure of incomes. A reasonable cancellation policy is also a positive thought. Asking me, or anyone who is actively building their business (and their financial future) to slow all activity for each individual by a week is unconscionable, nor should I have to provide references. After all, if I did, would I not just give 'good' references? Just paperwork that proves nothing. Nor should I, or any in any business, be required to provide our financial records to anyone. You are to be commended in seeing that there are far too many ILLEGAL Business Opportunites springing up on the Internet. And I commend you for starting to allieviate this condition, for the Illegal Business Opportunities that someone might get into, and then find to be little more than a method of taking their money, sours the business model for those of us on the Legal Side. Please, do not go overboard and make unreasonable policy, as the Government seems adept at doing in too many instances. Respectfully, Ross J Stone