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They can still promote their products, by sending them to social media reviewers no-strings-attached, or by posting through non-commercial channels. For instance, corporate representatives can promote their company's offerings on their own accounts on twitter or reddit.

What they should not be able to do is pay people, who have a media or influencer "brand", to say things about a product or service. Or pay media for a time slot during which a corporate agent spouts propaganda about the company's product or service. Or send a product to a reviewer as part of a contract for a review, even if it's supposedly a "fair and honest" review.