Two competing programs? Moral question

[Azam.net]

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Do you think it's right for one Affiliate Management company to manage two competing merchants, if both of them are OK with it e.g. T-Mobile and Vodaphone?

Is it ethical to manage two programs in the same vertical which are not directly competing e.g. T-Mobile and Carphone Warehouse?

[KirstyM]

When I worked for an online marketing agency, we often had clients within the same sector. We would assign them to different account managers, and simply compete against each other in-house.

We were pretty honest types, and never sneaked around looking at each others info, nor did we discuss the ins and outs of what we were doing for them day to day, so I suppose that technique is dependant on good moral fibre!