Facebook users who deleted their accounts did not realize that information that they shared with other users would persist on their Facebook friends' accounts.
Essentially, according to these new terms, if you created a Facebook page, posted content on one, created a link from one, or allowed someone else to do so, you had transferred the intellectual property rights to the content to the company, subject to your privacy settings.
Source: SecurityFocus.com
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facebook has more complete guide for new privacy features. That's good.
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