You've heard of Must See TV, well if you have a Facebook account, this is Must Read Fine Print. This is Facebook's New Terms of Service. The social network will now OWN all of your photos, contents, etc. From my limited understanding, what I see is that Facebook doesn't want to be sued when a third party uses a picture or content. For example, remember when the news networks used the picture of Captain Sullenberger (the pilot who landed the plane on the Hudson River) from his Facebook page? Well, who is to say how other people will use images from Facebook? In addition, Facebook may finally have showed its revenue source hand. It can now make money off of its members. All of this is fascinating to me because Belmont just hosted the Southeast Journalism Conference where we discussed some of the copyright issues and you will be amazed at how situational the laws really are.
Sorry so wordy, I'm on the run. Hopefully, I can add to this later. But READ the agreement especially the License part.