| Comment Number: | 522418-07350 |
| Received: | 7/10/2006 3:29:10 PM |
| Organization: | Yager Organization |
| Commenter: | Richard Griesbach |
| State: | NJ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I would like to make some comments about the recent request by the FTC to change they way we do business. I have been in my own sole proprietor business for over 30 years and I could never have survived let alone get started if I had to do what you are requesting us to do now. I do believe there should be a level playing field that is easy and fair for anyone to have the opportunity to start their own business. How could the new person have any credibility if they are just starting out and they need references. Yes there should be the ability to reneg on the business within a reasonable time. There should not be a seven day waiting period before a prospect could register. Even in securities there is only a 3 day wait. The right of privacy is null and void if someone would have to provide past litigation. The past should not influence the present in building a business. The form that discloses what the average person makes in the business is more than enough to share with the new prospect. Even that number is slanted because of what the FTC requires to be considered an active IBO. Please consider the honest efforts that we have had to endure in building our business. No one was ever misled or misguided about what is required, money that can be made or what is necessary to build their own business. What the FTC is considering is not fair at all!