so naive!!!
paste from snopes:
Origins: This claim about protecting your privacy rights on Facebook by posting a particular legal notice to your account is similar to an item which circulated several years ago positing that posting a similar notice on a web site would protect that site's operators from prosecution for piracy. In both cases the claims were erroneous, an expression of the mistaken belief that the use of some simple legal talisman — knowing enough to ask the right question or post a pertinent disclaimer — will immunize one from some undesirable
legal consequence. The law just doesn't work that way.
Moreover, the basic premise of this item is false: The fact that Facebook is now a publicly traded company (i.e., a company that has issued stocks which are traded on the open market) has nothing to do with privacy rights. Whatever the legality of the U.S. federal government (or other persons, agencies, or institutions) monitoring your account or using your profile information, it is not altered just because Facebook is now a publicly traded company. As well, privacy agreements users of Facebook entered into with that company prior to its becoming a publicly traded company remain in effect: they are neither diminished nor enhanced by Facebook's public status, nor can Facebook users retroactively and unilaterally negate any of the privacy terms they have previously agreed to.
As techtalk noted of Facebook users' current privacy rights:
The fact is that Facebook members own the intellectual property (IP) that is uploaded to the social network, but depending on their privacy and applications settings, users grant the social network "a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook (IP License)."
Facebook adds, "[t]his IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it."
While the social network does not technically own its members content, it has the right to use anything that is not protected with Facebook's privacy and applications settings. For instance, photos, videos and status updates set to public are fair game.
The bottom line is that before you can use Facebook, you must indicate your acceptance of that social network's legal terms, which includes its privacy policy. You cannot alter your acceptance of that agreement, nor can you restrict the rights of entities who are not parties to that agreement, simply by posting a notice to your Facebook account or citing the Uniform Commercial Code (UCC).
(One of the common legal talismans referenced above is UCC Section 1-308, which has long been popular among conspiracy buffs who [incorrectly] maintain that citing it above your signature on an instrument will confer upon you the ability to invoke extraordinary legal rights.)
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