|Received:||7/13/2006 2:54:13 PM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:FTC, I have been an IBO for a couple of years now. I have recently began actively sponsoring new IBOs. The list of regualations will do nothing but hinder good legitimate companies like ours. I personally do not understand why we would need a 7 day period for disclosure? I currently work in the mortgage business and on a refinance transaction, it is only a 3 day recession period.... but if someone wants to start a business they must wait seven days? When someone qualifies for the business they are given your FTC approved information package to take home and review and a follow up meeting is set to answer any questions or concerns. Also to fully start a Quixtar business and receive products is currently about $175. Which carries a full money back gurantee for 6 mos. There are also times when prospects may want to meet other people who are currently in the business. We don't need to carry list of 10 people around with us. I certainly wouldn't want my number floating around to every prospect to call me at all hours of the day and night. We hold open meetings in my area on Tuesday, Wednesday, and Thursday, where they can literally meet hundreds of people in our area that are doing exactly what they would be doing, at all stages of commission levels. There is no need to make every single person carry their checks around with them to show the income to every prospect, because we currently show examples of many different income levels in our FTC approved plan. When people ask about the income for your job, do you pull out a check to show them or just tell them. I also don't understand why we would need to openly share about all pending lawsuits. When I go to Walmart to shop, I don't first ask about all the pending lawsuits they have. This would also open up more cases where less honest companies could send people into our organizations and file fraud cases against us without cause. Thou these cases may be later dismissed, at the time they would hurt our company. I am happy to see that the goverment is looking for ways to help curb issues with illegal pyramid type businesses, but it should not do so at the expense of other legal businesses.