Let's say I receive a spam which mentions a fictive company printmycatphotos.com.
If I follow the link, upload files, and finalize the transaction, clearly printmycatphotos.com has made some profit. But is it the only one which just made profit ? Has somebody at printmycatphotos.com necessarily made the decision to use spam (whether they name it spam internally or not) as a way to find new customers? The URL in this spam doesn't link directly to printmycatphotos.com, but through wyclic.com. The reply-to is also not directly related to the company.