| Comment Number: | 522418-07756 |
| Received: | 7/11/2006 4:46:07 PM |
| Organization: | Freedom International |
| Commenter: | Jennifer Vander Veen |
| State: | MI |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I am writing to voice my opinion on the proposed Business Opportunity Rule that is being considered by the FTC. My husband and I have been IBOs through Quixtar for almost 2 years. We build our business with a very professional approach and are very supportive of the FTC to want to eliminate any "get rich quick schemes" that are circulating. There is no doubt that there are proclaimed "business opportunities" that are nothing more than a scam and people have been hurt by these organizations. However, when establishing guidelines to protect the general public from scams like these, we need to be careful not to hinder true and legitimate businesses in the process. After reading the proposal, I do have a few concerns. One part of the proposal would require us to provide the names and numbers of successful people as references. First, I believe this is interfering with people's privacy. Second, although the people we are in business with are very trustworthy, there is no guarantee that these people would not seek out someone on the reference list and partner with them. When we are introducing new prospects to our business, we strive to introduce them to our business team. We are proud of the business men and women who mentor us. It is to our benefit that they meet people who are more successful than us to see what is truly possible in our industry. But to require us to provide their personal information seems like an invasion of privacy. Besides, how feasible is it to ensure that this information given out is even accurate. People should be wise enough to research who they are getting into business with before they join a business team. The next area I have a concern with is the seven day waiting period. Honestly, this wouldn't affect how we do business because of the way we take time to educate and develop people prior to registration. However, I am never in support of laws being passed that limits my ability to make my own decisions. We need to all be responsible adults. If I want to begin a business 2 days or 6 days after I have been introduced to a business, I believe we as American Citizens have every right to do that. I do not think the government has any right to tell me that I have to go through a 7 day waiting period. This infridges on my rights. This country was established in part to give us the freedom to own and develop businesses. The more regulations we put on that freedom, the more constricted the American businesses will be. These are only a couple of the concerns I have with this proposal. Again, I am in complete support of the FTC finding a way to stop illegimate businesses. However, I implore you to make sure that you are not crippling the businesses who have benefitted so many of our American citizens. If we pass legislation that hinders the growth of American businesses, then we will have a very dismal future and economy. Thank you.