From the Inquirer:

Wants the right to sell your photos without cutting you in on the proceeds

PHOTO SHARING WEB SITE Twitpic has caused a bit of excitement on Twitter this morning after changing its terms and conditions to imply that it owns the rights to all your uploaded photos and may sell them to whomever it pleases, without cutting you in on the proceeds.

But not only does Twitpic claim the right to make use of your photos for fun and profit, it thinks it's also entitled to sublet those rights to other companies as it sees fit. It may also produce derivative works from yours and distribute everything to any of its partner web sites.