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Originally Posted by JMM
They don't own it, they just have a license to use it. You still own it. There is no transfer of rights in that paragraph.
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ok, sorry, i worded that wrong.....basically, if you post content there, they have a license to use it for whatever they want
so, if nine inch nails posted a new song of theirs on that site, myspace has the rights to use that song however they see fit