|Received:||7/17/2006 2:28:03 AM|
|Subject:||Business Opportunity Rule|
|Title:||Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Part 437|
Comments:The proposal currently being put forward by the Federal Trade Commission (16 CFR Part 437) is a rather disturbing one for entrepreneurs in general. I personally was introduced to a business opportunity named Quixtar by my son. The FTCs proposals alarms me a lot for him more than myself. This is because my husband and I have seen my son diligently work for over three years to build his business. With my experience in the Private Security Industry, I am afraid that some of the proposed rulings could damage a credible opportunity like the one he has worked so hard at. Below are my reasons. One of the first items that disturbs me the most is the 7 day waiting period. Personally, I do not see why any educated person should have to wait 7 days before venturing into a business opportunity of their own. Even though I am not Internet savvy, I know enough to do research on almost anything simply through the power of the Internet. Along with that is the fact that in this information age, we can learn so much from other sources like the media, people, books and more. Thus, I do not see the need to stagger credible business opportunities like Quixtar and others for people to get more information. People are smart enough to decide when they are ready to venture into an opportunity. The government should not interfere with their choice to go into business for themself in its efforts to protect them. Secondly, the proposed rule to disclose all lawsuits against corporations or people affiliated with them is even more scary. Besides being a part of the Quixtar opportunity, I also own a security business along with my husband. If I was required to disclose every lawsuit made against us to clients, I am quite certain we would be out of business. A lawsuit is an allegation made against another. It can be true or false. Regardless of the ruling on the lawsuit, the allegation does not necessarily have to be true. Thus, for a business oportunity to be judged by lawsuits of all sorts is not in my opinion a good way to do business. It increases the difficulty of being successful in any opportunity, notwithstanding the Quixtar opportunity. It would paint a negative image on any business oportunity let alone the one I am involved in. The Internet so far has generally been a deterrent for prospective partners to join this business model posting a series of opinions that are vastly inaccurate. Thirdly, the proposal to disclose other competing businesses is in my opinion, a serious threat to business opportunities in general. I have been involved in the Quixtar opportunity for over three years. After owning my own security business for over 20 years, one thing myself and my husband have learnt is to privatise client information. The purpose of this is to prevent theft from competitors or even suppliers of products which we distribute. The most beautiful thing about free enterprise is competition. However, every business owner should have the right to protect the client base they create through their efforts. They should not be forced to share that information with others. Such information sharing will mainly profit those who have already succeeded and will stagger and seriously frustrate those who are yet to succeed. Businesses should have the opportunity to reap the harvest of their efforts. These are my most vital concerns about the FTC proposed ruling. I am very encouraged about the fact that I live in a country where the government looks for creative ways to protect its people. However, this protection should not be so invasive that it could possibly lead to the diminish of free trade in the greatest country the world is yet to see, America.