I was recently involved in a business transaction with someone who claimed to be an attorney, had a reputation for being such with mutual acquaintances, and talked a good game. As the ball started to get dropped one too many times, an investigative check revealed that this person had been disciplined, losing law licenses and the related right to practice law. Â

The importance of checking backgrounds on business deals was reinforced in this excerpt from a letter posted at rateladder.com apparently from Prosper Security.

“It has come to our attention that one of the group leaders on Prosper is subject to a Federal Trade Commission (FTC) settlement order that bans him and his related companies from advertising, marketing, promoting, offering for sale, or selling any credit-related goods or services, or assisting others engaged in the same activities.”

Benjamin Franklin once said that an ounce of prevention was worth a pound of cure. Very true.

About the Author

With an advanced international law degree from Georgetown University and more than 14 years of real world legal experience, Attorney Mike Young shows entrepreneurs how to protect and grow their businesses online. He's the author of Internet Marketing Legal Secrets Revealed. Not just a lawyer who focuses exclusively on Internet and marketing law, Mike’s been working with computers for more than 27 years (his first computer was an Atari 400 with 8 KiB RAM) and started representing Internet businesses back in 1996.