It’s all over the news today. Facebook has total rights over your photos..and it’s in the fine print. Business Week reports: “It’s always a good idea to pay attention to the service terms on social media sites. The importance of reading the fine print became especially clear over the President’s Day weekend during a brouhaha over social network Facebook and recent changes to the terms of service users must sign digitally before joining”.

In short, Facebook has “an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license” to use, retain, and display content posted to the site.

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Teenagers all over the world are now erasing their naked and drunken party photos from Facebook. Celebrities are taking down their coke induced mobile phone uploads. Since Facebook already has these and are laughing their asses off, we will one day see a coffee table book called “Facebook’s Greatest Retards” for $49.99 at all national bookstores.