A thread at WebmasterWorld points to Link Building as a bad phrase. He says, link builders might be happier with the term reputation development.
 The links that we "build" has to be the ones where we control the pages. But then do these links matter? These do not go with counting a site's authority. Only those links matter on which we have no direct control - ones we can't actually "build." So it's  better to rephrase the term with link developement that would encourage us to work ethically and to show our skill to the outsiders.

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