[Federal Register Volume 85, Number 244 (Friday, December 18, 2020)]
[Notices]
[Pages 82477-82478]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-27831]


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FEDERAL TRADE COMMISSION


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request

AGENCY: Federal Trade Commission.

ACTION: Notice.

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SUMMARY: The Federal Trade Commission (``FTC'' or ``Commission'') 
requests that the Office of Management and Budget (``OMB'') extend for 
an additional three years the current Paperwork Reduction Act (``PRA'') 
clearance for the information collection requirements in the Business

[[Page 82478]]

Opportunity Rule (``Rule''). That clearance expires on January 31, 
2021.

DATES: Comments must be submitted by January 19, 2021.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under Review--Open for 
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Christine M. Todaro, Attorney, 
Division of Marketing Practices, Bureau of Consumer Protection, Federal 
Trade Commission, 600 Pennsylvania Avenue NW, CC-8528, Washington, DC 
20580, (202) 326-3711.

SUPPLEMENTARY INFORMATION: Title of Collection: Disclosure Requirements 
Concerning Business Opportunities, 16 CFR part 437.
    OMB Control Number: 3084-0142.
    Type of Review: Extension without change of currently approved 
collection.
    Affected Public: Private Sector: Businesses and other for-profit 
entities.
    Abstract: The Business Opportunity Rule requires business 
opportunity sellers to furnish prospective purchasers a disclosure 
document that provides information regarding the seller, the seller's 
business, and the nature of the proposed business opportunity, as well 
as additional information to substantiate 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. The Rule is designed to 
ensure that prospective purchasers receive information to help them 
evaluate business opportunities. Sellers must disclose five key items 
of information in a simple, one-page document: (1) The seller's 
identifying information; (2) whether the seller makes a claim about the 
purchaser's likely earnings (and, if yes, the seller must provide 
information supporting any such claims); (3) whether the seller, its 
affiliates, or key personnel have been involved in certain legal 
actions (and, if yes, the seller must provide a separate list of those 
actions); (4) whether the seller has a cancellation or refund policy 
(and, if yes, the seller must provide a separate document stating the 
material terms of such policies); and (5) a list of persons who have 
purchased the business opportunity within the previous three years. 
Misrepresentations and omissions are prohibited under the Rule, and for 
sales conducted in languages other than English, all disclosures must 
be provided in the language in which the sale is conducted.
    Estimated Annual Burden Hours: 10,065.
    Estimated Annual Labor Costs: $703,141.
    Estimated Annual Non-Labor Costs: $3,057,203.\1\
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    \1\ This number differs slightly from the annual non-labor cost 
estimate ($3,056,503) published in the Commission's July 28, 2020 
Federal Register notice due to a transcription error relating to the 
number of entities marketing business opportunities in a language 
other than English.
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Request for Comment

    On July 28, 2020, the Commission sought comment on the information 
collection requirements associated with the Privacy Rule. 85 FR 45427 
(July 28, 2020). No relevant comments were received. Pursuant to the 
OMB regulations, 5 CFR part 1320, the FTC is providing this second 
opportunity for public comment while seeking OMB approval to renew 
clearance for the Rule's information collection requirements.
    Your comment--including your name and your state--will be placed on 
the public record of this proceeding. Because your comment will be made 
public, you are solely responsible for making sure that your comment 
does not include any sensitive personal information, like anyone's 
Social Security number, date of birth, driver's license number or other 
state identification number or foreign country equivalent, passport 
number, financial account number, or credit or debit card number. You 
are also solely responsible for making sure that your comment does not 
include any sensitive health information, like medical records or other 
individually identifiable health information. In addition, do not 
include any ``[t]rade secret or any commercial or financial information 
which is . . . privileged or confidential'' as provided in Section 6(f) 
of the FTC Act 15 U.S.C. 46(f), and FTC Rule 4.10(a)(2), 16CFR 
4.10(a)(2). In particular, do not include competitively sensitive 
information such as costs, sales statistics, inventories, formulas, 
patterns devices, manufacturing processes, or customer names.

Josephine Liu,
Assistant General Counsel for Legal Counsel.
[FR Doc. 2020-27831 Filed 12-17-20; 8:45 am]
BILLING CODE 6750-01-P