For this task i chose Facebook as the social network site. In the ToS agreement anything you post on Facebook is owned by you but Facebook has the right to remove anything that would be of offensive content to other users, or any posts that may be deemed to incite riots or similar discontent that may be illegal. Facebook can also backup your content for a period of time in the event that you delete the content after use of the web site is ended. They have privacy regulations that seems to have been significantly relaxed in recent years as is visible on the charts listed here on http://mattmckeon.com/facebook-privacy/ . This may be partly due to recent events happening in regards to global security issues and intelligence communities.
There is also an indemnity clause in the ToS to say that Facebook is not legally responsible for any activities a user posts that may be considered illegal to the government where they live, e.g. inciting riots, planning bank robberies, organizing lynch mobs etc... This is to ensure that the owners of the website are not held responsible for one persons misdeeds therefore punishing everyone else who would use the site the way it was intended to be used.
I don't have any major concerns about this myself as I don't really use social networking websites very often but it makes sense to not be held liable for everyone out there who makes an offensive post
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