For instance, how are you going to handle the veritable smörgåsbord of unique terms and conditions that come attached to each merchant's affiliate schemes? How are users going to be informed of these terms?

Perhaps more importantly, how are you going to deal with people who violate these terms? What happens when one of your users starts using your links as part of a Google AdWords campaign, bidding on keywords that a merchant specifically prohibits?

What happens when a user starts sending your links in the form of unsolicited emails, or starts offering an incentive for people to make a purchase through a referral link — both practices that are commonly prohibited by affiliate schemes?