Pinterest took a giant step yesterday toward attracting business users when it unveiled a slew of business tools and resources. First among them, a set of “Business Terms of Service.”
Among them, a warning that you pretty much surrender your rights to anything you post there. “Pinterest and its users a non-exclusive, royalty-free, transferable, sublicensable, worldwide license to use, store, display, reproduce…” (it goes on).
Second that, unlike most business arrangements, this is not a contract: Pinterest may terminate or suspend this license at any time “with our without cause or notice to you.” Third, an indemnity clause. They don’t summarize it on the Business Terms as they do for the personal terms, but the short story is that if Pinterest gets sued over your post, you pay for it.