| Comment Number: | 522418-12659 |
| Received: | 7/17/2006 11:26:50 PM |
| Organization: | |
| Commenter: | Venkata Srinivasa Bodala |
| State: | NJ |
| Subject: | Business Opportunity Rule |
| Title: | Notice of Proposed Rulemaking |
| CFR Citation: | 16 CFR Part 437 |
| No Attachments |
Comments:
Problem 1: Prospects would have to wait seven days after receiving disclosures before they could register. Solution: For Quixtar opportunity we always offer complete money back guarantee for 3 months. We did return money each and every case. This rule will affect prospective IBO in many ways because they will get delayed in growth & learning about opportunity quickly and there by the time taken to reach platinum level will get delayed. Problem 2: You would be required to give every prospect a list of "references" – the names, addresses, and phone numbers of 10 other IBOs in the area – seven days before the prospect registers. Solution: This requirement no way help prospective IBOs. This will lead to lot confusion and may encourage IBOs to introduce others prospects. Please eliminate this rule so that one person with help of other team members can lead the prospect effectively to take a proper decision for himself. Problem 3: You would have to give every prospect a list of all lawsuits, arbitrations, and other legal claims for the past 10 years involving Quixtar and its IBOs where the plaintiff alleged fraud, misrepresentation, or unfair trade practices – regardless of whether or not the accusation was true. Solution: This rule should be eliminated because this will encourage competing companies to bombard with false allegations and there by spoiling the name of Quixtar.com. This opportunity is already one of the best business opportunities. With this rule gives false info to Prospects which is not even there. Problem 4: You would have to make a different disclosure for every income claim.This would include any examples you might use during an opportunity presentation to illustrate how the Plan works. Solution: If disclosures are needed, require a simple, standard, easily understood disclosure such as "average monthly gross income for 'active' IBOs." Problem 5: You would be required to provide prospects with personal financial documents to back up ("substantiate") any income claim. Solution: IBOs should possess substantiation for any claim but should not be required to disclose it except when required by the FTC and similar state agencies in an agency investigation.