| Comment Number: | 522418-08585 |
| Received: | 7/13/2006 12:32:49 AM |
| Organization: | Charles Bean & Associates |
| Commenter: | Charles Bean |
| State: | OR |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
I feel that the propossed rules have some good parts and some bad parts. Requiring a simple and standardized income disclosure that applys to all and providing for a reasonable cancellation policy are both good points. The bad parts are: Requiring a 7 day waiting period befor registration is rediculous. This would be like asking a customer to wait a week before buying a new car. The first few days of a new persons business can be critical to the success of that person, you need to start working with them as soom as you can. Requiring references of other people in your business is another bad idea. Requiring disclousure of past litigation is anloth bad idea. This does nothing expect confuse the new business prospect. Disclousure of financial records to prospects is anoth bad idea. The standardized income disclousres should take care of this. I hope my comments will be helpful in your considerations for a fair and useful rule. Thank you, Charles Bean