“When you post User Content to the Site, you authorize and direct us to make such copies thereof as we deem necessary in order to facilitate the posting and storage of the User Content on the Site. By posting User Content to any part of the Site, you automatically grant, and you represent and warrant that you have the right to grant, to the Company an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such User Content for any purpose, commercial, advertising, or otherwise, on or in connection with the Site or the promotion thereof, to prepare derivative works of, or incorporate into other works, such User Content, and to grant and authorize sublicenses of the foregoing. You may remove your User Content from the Site at any time. If you choose to remove your User Content, the license granted above will automatically expire, however you acknowledge that the Company may retain archived copies of your User Content. Facebook does not assert any ownership over your User Content; rather, as between us and you, subject to the rights granted to us in these Terms, you retain full ownership of all of your User Content and any intellectual property rights or other proprietary rights associated with your User Content."Yeah, I'm on Facebook, but barely. I can do without the zombie biting and movie quiz triviality of it all. Sorry. I can only handle so many tedious networking sites. I get invites to new ones all the time, but I should warn you, I won't be joining. Sorry. Too much work. Will be sticking with Myspace ( yeah, with all it's flaws it's vaguely useful ) Blogger and Livejournal on the website and real actual email. Trying my best to have a little bit of a "life" these days too.
So that said, basically anything that is posted on Facebook can be used or sold by them to anyone. Yes, you do retain full ownership but you automatically grant the usage over to them.
Cheers to the Drawn! blog for the article too.