Did you know that the MLM giant Herbalife has spent more than $800,000 lobbying?
It’s unfortunate, but it’s the political game that’s being played after Bill Ackman went charging after Herbalife. Some say that it’s his personal pursuit to increase his wealth through his hedge fund. Who knows?
While this might seem like a battle between Ackman and Herbalife, it can very well have an impact on the entire MLM industry. What I see here is a push for more transparency. While the government has made it a law to provide proper disclosure, how many MLM’s are actually providing all the data?
Starting in March 1, 2012, the FTC added a new rule to help protect individuals from fraudulent biz opps. This was done by push out “The Business Opportunity Rule“. The rules provide the guidelines of what a business opportunity should disclose: identifying information, earnings disclaimer, legal actions, other customer’s data…etc.
The list of customers seems kind of strange, but a lot of the information that’s required does make sense. There are a lot of companies selling empty promises. As a consumer, wouldn’t you want to know the Truth on MLM?