Disclosure Requirements Concerning Business Opportunities

ICR 200810-3084-002

OMB: 3084-0142

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2008-10-03
IC Document Collections
ICR Details
3084-0142 200810-3084-002
Historical Active 200805-3084-001
FTC
Disclosure Requirements Concerning Business Opportunities
Extension without change of a currently approved collection   No
Regular
Approved without change 12/17/2008
Retrieve Notice of Action (NOA) 10/10/2008
  Inventory as of this Action Requested Previously Approved
12/31/2011 36 Months From Approved 12/31/2008
250,000 0 250,000
16,750 0 16,750
3,887,500 0 3,887,500

The Rule is designed to ensure that prospective purchasers of a business opportunity receive information that will help them evaluate the opportunity that is presented to them. The Rule requires business opportunity sellers to furnish to prospective purchasers a disclosure document that provides information relating to the seller, the seller’s business, the nature of the proposed business opportunity, as well as additional information regarding any claims about actual or potential sales, income, or profits for a prospective business opportunity purchaser. The seller must also preserve information that forms a reasonable basis for such claims.

US Code: 15 USC 41-58 Name of Law: Federal Trade Commission Act
  
None

Not associated with rulemaking

  73 FR 38451 07/07/2008
73 FR 59629 10/09/2008
No

2
IC Title Form No. Form Name
Business Opportunity Sellers (New Entrants)
Business Opportunity Sellers (Established Entities)

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 250,000 250,000 0 0 0 0
Annual Time Burden (Hours) 16,750 16,750 0 0 0 0
Annual Cost Burden (Dollars) 3,887,500 3,887,500 0 0 0 0
No
No

$154,000
No
No
Uncollected
Uncollected
Uncollected
Uncollected
Karen Hobbs 2023263587 khobbs@ftc.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
10/10/2008


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