Business Plan
Also known as compensation or income plan.  This is the commission structure of the company, and it's very important that it's put together in such a way to show clear and simple benefits for you and your prospects.

The business plan must be easy to understand.  One of the first questions people ask when looking at a new MLM is: How much money can I earn?  It's important that they can find this information quickly, and that it's simple to understand.

It also needs to reward the efforts of both the "big hitters" and MLM novices.  Some people will bring 100s of prospects into a company, and will expect to be rewarded for it.  However, the majority will only introduce a very small number of people, and it's important the business plan rewards their efforts, since they will often have worked just as hard as the big hitter.

Some useful things to look out for include:

A forced matrix.  This will encourage the novices because of the prospect of spillover.

A new sign up bonus, paid when you introduce a new member.  This is good for the big hitters, because they can make a lot of money this way.

A loyalty system, that rewards people for staying with the company.

Other bonuses and competitions, both random and performance based.