1: gunboats and fighters only-
Seriously, you don't see mercs wandering around with too much gear, it just gets in the way. Besides, without major backing, they can't maintain a large ship effectively.
2: the ability to work for lawfuls and unlawfuls.
As was stated before, A merc relies on his rep to get work, abuse would end quickly when players realize doing so would land them KOS with everyone.
EDIT posting in relevant thread.
........Once more unto the breach, dear friends, once more;..........But when the blast of war blows in our ears,.....
........Or close the wall up with our English dead...........................Then imitate the action of the tiger;.................
........In peace there's nothing so becomes a man........................Stiffen the sinews, summon up the blood,.........
........As modest stillness and humility:........................................Disguise fair nature with hard-favour'd rage!....
Dasher
"Another popup faction. Great. What's wrong with my popup blocker?" - Denelo
"Oh come on, slow and steady doesn't win any races, fast and steady does."