Here are some highlights from Facebook’s current terms of use:

-First you (the user) agree to arbitration should you ever come into a conflict with Facebook (arbitration means that the argument will be settled out of court).

-Facebook uses ALL of your content that has been uploaded to promote its business ends. This means that they find information like taste in music or movies to advertise to you and other Facebook users more effectively. When giving this information to a third party site, they don’t give out your name; it is only for promotional reasons.

-Under the current terms of service, once you terminate your account, Facebook will only keep your information for “a reasonable period of time” that is not specified. During this time, the information will be with Facebook but not available for others to view at Facebook.com

-Facebook reserves the right to change its terms of service at any point in time without telling its users about it. It is at the user’s discretion to check whether Facebook has changed its terms or not.