Update: Facebook went back to the old Terms of Service temporarily, claiming they will create a better, new version in the future.
Does Facebook own all content you have on Facebook forever? They recently modified their Terms of Service to say just that:
You hereby grant Facebook an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to (a) use, copy, publish, stream, store, retain, publicly perform or display, transmit, scan, reformat, modify, edit, frame, translate, excerpt, adapt, create derivative works and distribute (through multiple tiers), any User Content you (i) Post on or in connection with the Facebook Service or the promotion thereof subject only to your privacy settings or (ii) enable a user to Post, including by offering a Share Link on your website and (b) to use your name, likeness and image for any purpose, including commercial or advertising, each of (a) and (b) on or in connection with the Facebook Service or the promotion thereof.
They have responded, saying You Own Your Own Information, but when the Terms of Service clearly states that Facebook actually owns it, who are we to believe? The blog post or the official legal document?
More details:
The Consumerist: Facebook’s New Terms Of Service: “We Can Do Anything We Want With Your Content. Forever.”
The Consumerist: Facebook Clarifies Terms Of Service: “We Do Not Own Your Stuff Forever”

