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My feeling is if it's an affiliate using it to send traffic (and signups) to you, then it's okay. They're just picking up on traffic that you would be missing anyway, and sending it over to where it originally should have gone. (After all, you still make $$ off of it thanks to their efforts.)
If it's someone trying to obviously exploit the popularity of your site to send traffic to a competitor or their own crap (anything other than to your original site) then it's not okay... it's an exploitation of your brand.
Make sense?
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