|Received:||6/22/2006 6:53:43 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I find the proposal Business Opportunity Rule to be unfair and absurd. The requirements for additional disclosures will only burden the legitimate business while doing nothing to deter the fraudulent operators. In addition the requirement to not misrepresent a variety of facts is also a given for honest companies and is no deterrent again for scam artist. In addition I find it despicable that you would quote an unnamed business opportunity consultant's flagrant, generalization that follows: "Further, unlike most franchises, many business opportunities are permeated with fraud. Perhaps one business opportunity and franchise consultant said it best when she described many business opportunity sellers as: Individuals who go from one business opportunity to the next, violating laws, committing frauds, taking funds without delivering what was promised only to shut down the operation within a year and move on to another one with new officers, new company names, and new products." It is unbelievable that you would put that sort of brand on "many” business opportunities and cause a blemish on those companies that are honest. The proposed rule making is another beautiful example of unnecessary, ineffective government oversight that only restricts the honest company and entrepreneur and does NOTHING to prevent fraud. And what prospective business owner is even going to know that they are supposed to receive all these disclosures? So just exactly what about these rules is going to protect the prospective business owner? I suggest we learn to make it our own responsibility to research a business before we spend our money and time? It is time to put and end to the babysitting and entitlement mentality of the government and a return to a country of self- reliance and self-respect.