Though there are several shades of definition, ad network transparency is a network's disclosure of the sites it represents....
Ad Network Claims
Pose the transparency question to an ad network now and you're almost certain to get an affirmative answer -- with a few exceptions. Probe a little further, however, and you'll see not all their answers are the same.... (blog)
Some networks, like Interclick, and contextual networks, like Google's Content Network, Google's content network, AdBrite, and Quigo, take an absolute stance on transparency. Others, like Tribal Fusion, Tacoda, and Collective Media, emphasize the quality content of their network and assert transparency, but there seem to be some gray areas. These networks may conceal a small number of publishers, only disclose their list of sites upon request, or provide limited reporting. Still others, such as Burst Media, offer both. Burst Media's Burst Direct is a blind network, while the Burst Network is transparent.
(Ed: also lacking transparency on targeting method, auction policies, fraud control.)
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