FTC Business Opportunity Rules

I couldn’t help but notice the other day that Rob Benwell’s “Blogging To The Bank” was up for sale …… again! This is the third time that Rob has tried to sell “BTTB”. It seems that the previous two sellers could not come up with the Million Dollar Price Tag that Rob sold the business for ( or close to it ), so here we go again.

While browsing the ad I noticed that someone had commented on the new “FTC Business Opportunity” rules. Basically these new rules look to provide sellers with guidelines on selling the popular “Business In A Box” opportunities that are popular Online.

I’ve often toyed with the idea in the past as I’m now clear on what has to happen to make a go of it Online. However, the package would be so big that I seriously doubt if anyone would get any real value out of it as it would take too long to go through. You might as well work your way through whatever it is that you have to Online by yourself.

The kicker to the rules come at the end with a form that has to be filled-out and summitted with the sale of such products. The first question:

LEGAL ACTIONS: Has [Name of Seller] or any of its key personnel been the subject of a civil or criminal action involving misrepresentation, fraud, securities law violation, or unfair or deceptive practices, including violations of any FTC Rule, within the past 10 years?
YES –> If the answer is yes, [Name of Seller] must attach a list of all such legal actions to this form.
NO

Well that just about wraps this deal up! Let me understand this; “subject of a civil or criminal action involving misrepresentation, fraud, securities law violation, or unfair or deceptive practices, including violations of any FTC Rule”. Is there any other kind of lawsuit.

Even if you haven’t had any such action, if even one of your sales goes south and the “victim gets pissy” then “LEGAL ACTIONS:” part of the form will now apply to you for the rest of your life …… oh, excuse me, …… “the next 10 years”.

Any deal that you enter into where you have to submit such a form is done before it’s done. Who in the world would fill-out such a form. Give me a break!!!

See, the clam here is that if you go down that “misleading” road that the “victim” has a document in your name signed by you that they can “Slam Dunk” you with in court. If you lie on the form, you’re gone; you lose without even a trial. If you tell the truth, you’re gone! You calmed that you weren’t a crook on the form and now you have a “victim” before the court claiming the very thing …… you’re gone.

Hey, …… if you’re out there wasting everyones time by taking advantage of others, then you deserve to get cooked in court. However, the rules not only protect you against the “bad and the ugly”, but also the “good”! I can’t think of anyone that is a reputable Internet Marketer signing such a form under any conditions. The FTC, much like the “Venus Fly Trap”, are not all that choosy about who comes along.

Looks like “Blogging To The Business In A Box” is done as an Internet concept. What a shame, the concept sounds so very cool!