Found this discussion on the Photoattorney Blog. There has already been a discussion about Facebook claiming the license to use your images for commerical purposes. The added wrinkles appear to be that Facebook also assumes that you have the permissions (model releases) for such use, and that you indemnify Facebook if they use your images and get sued.
Imagine this scenario: You photograph a church choir in a grand church with wonderful lighting. Good negative so you can recognize the choir members. You post this on your church site on Facebook, and sell the image in your fine art portfolio. No problems. Facebook now sells the image to an advertising company, who uses it to sell Church Brew, the Beer that Fulfills. This clearly requires model releases, which you do not have, and if there is a lawsuit, you get to pay for it, including any settlement.
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