| Comment Number: | 522418-08257 |
| Received: | 7/12/2006 3:07:07 PM |
| Organization: | |
| Commenter: | Neimiller |
| State: | FL |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Comments for FTC R511993. Recommend changes and additions to the proposed FTC Rule. 1. A disclosure of all rules and policies be given, and a receipt signed by both representative and potential customer of rules and policies that were given to the potential customer. 2. A ten day waiting period after signatures date before agreement between both parties can be legally bonded. This gives protential customer a better chance to review the rules and policies, and also investicate the representative or company's creditability. Seven days is not long enough for the working person, whom most of these negative actions have affected. 3. Form a list by company's and names that have been reported for fraud, misrepresent items or products to the public. A response from the company and results on the charges should be in that report. 4. Since the seller is selling money making business plans to others, the seller should provide a basic business plan to protential buyers. The busines plan should include the protential break even point in the business plan. 5. If products are involve, the seller must give the products cost up front and also the potential selling price for the products must be included. 6. If a service concept is involved, the cost for materials and a potential list for charging clients must be included in the proposal. 7. A risk plan should be included in the proposal. The risk plan should include a level of risk verses the investment. 8 All companies of money making plans should have to acquire a federal license and report at leaast yearly to FTC their operations and procedures. A Federal License number should be required and be used in the proposal for protential customers. If they do not have a Federal License, then the Company is not an official operational company. Therefore, a heavy fine and/or imprisment should be implemented to any company or owner of a non-license business opportunity company.