Does Anyone Read the Terms of Use / Service Agreement?

In this CNN.com article covering the White House Correspondence Dinner, the author notes Seth Meyers' hilarious metaphor about the way congress passes legislation by comparing it to the how we all simply say “I Agree” anytime the button pops up in our face on the Internet, more specifically, the iTunes terms. We all know that no one ever reads the terms of service, terms of use, privacy agreement or terms and conditions. 

CNN asked two attorneys to review the iTunes agreement and here are a few terms that users should be aware of:

1. “By opting in to the Genius feature, you consent to the use of your information.”
2. “product can be downloaded only once; after being downloaded, they cannot be replace if lost for any reason.  You shall be responsible for backing up your own system, including any products purchased or rented from the itunes store that are stored in your system.” 
3. “You agree that the Services contain proprietary content, information and material that is owned by Licensor, Apple and/or its licensors, and is protected by applicable intellectual property and other laws, including but not limited to copyright, and that you will not use such proprietary content, information or materials in any way whatsoever except for permitted use of the Services or in any manner that is inconsistent with the terms of this License or that infringes any intellectual property rights of a third party or Apple.”

Visit this article for a full explanation how these key terms may affect you.