You waive any right to privacy

There’s a story doing the rounds at the moment, which relates to the “small print” in AOL’s License Agreement (and specifically how it applies to their Instant Messenger package (AIM).

The relevant text:

?Although you or the owner of the Content retain ownership of all right, title and interest in Content that you post to any AIM Product, AOL owns all right, title and interest in any compilation, collective work or other derivative work created by AOL using or incorporating this Content. In addition, by posting Content on an AIM Product, you grant AOL, its parent, affiliates, subsidiaries, assigns, agents and licensees the irrevocable, perpetual, worldwide right to reproduce, display, perform, distribute, adapt and promote this Content in any medium. You waive any right to privacy. You waive any right to inspect or approve uses of the Content or to be compensated for any such uses.?

My Summarised Version:

If you post it via AIM, it becomes our property to do whatever we like with, anywhere in the world, without your permission, approval, or knowledge.

“Resistance is futile. You will be assimilated”

(thanks to Auntie and SlashDot for pointing this out!)