|Received:||7/7/2006 12:59:43 AM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:I agree that measures need to be taken to protect new business prospects, as well as legitimate business owners. I have concerns on how some parts of the proposed rule will affect me and my business, for both the future of my family, and the families of those who are and will be in my business. My biggest concerns are: How a seven day waiting period will cripple anyone from starting and building a business fast to become profitable. More time and increased logistics will create more business expenses over time creating undue hardship. I do not favor this part and would like it eliminated. Requiring references to each new prospect only gives instant prospects to other business owners who may not have integrity, and penalizes the sponsoring business owner. Requiring references for the new person in an area could also cause confusion if they are the only one in their line of sponsorship, and they have to use references of business owners who are not in their organization and do not run their business the same way as their line of sponsorship. The distributing of other business owners information also imposes upon the business owner’s privacy. I believe that this part also should be eliminated. Concerning privacy, I am strongly opposed to disclosing financial statement to prospects. What I or another business owner makes does not impact what the new prospect will do; depending on what they are willing to do with the opportunity and how hard they are willing to work. An alternative would be to have a standardized income disclosure that lists an average gross monthly income for active business owners. Instead of having a disclosure of anyone who wanted to bring about a lawsuit, you could have a reasonable cancellation policy with a buyback of salable materials. Also to help new prospects determine the validity of a business, the business owner could provide a list of credible sources to help them research.