If you’re like most people (myself included), when you see a license agreement, you don’t take the time to read it, you blindly click “agree” and move on.
In your defense, Carnegie Mellon researchers determined that it would take the average American 76 work days to read all the privacy policies they agreed to each year.
The linked article picks up some of the more important (and to some, chilling) things embedded in that Facebook license agreement you agreed to. Here’s a link to Facebook’s Statement of Rights and Responsibilities, as well as to the Facebook Data Use Policy, in case you want to follow along at home.
If you are going to use Facebook, take a few minutes to read the article. Make sure you know what you are getting into.