Last week, we posted a link to an article that examines some of the common myths about Pinterest’s Terms of Service. Most of the myths could be filed under the heading of “who owns what.” For example, some people had (incorrectly) opined that Pinterest owns everything that is posted on the site. Pinterest has apparently been paying attention to the confusion because it recently announced that it would change its Terms of Service, effective April 6, 2012.

A blog post on the Pinterest site states: “When we first launched Pinterest, we used a standard set of Terms. We think that the updated Terms of Service . . . are easier to understand and better reflect the direction our company is headed in the future.” Among other changes, Pinterest: (a) clarified that that members retain their rights to the content they post; (b) narrowed the scope of the license people grant to Pinterest; and (c) shortened the duration of the license.

These changes are relevant to anyone who uses Pinterest. But they also hold a broader lesson to companies regarding the use of “standard” terms. Although using a standard set of terms (or agreement or privacy policy or sweepstakes rules) may seem like an easy way to get things done, it doesn’t help much if the standard isn’t relevant to you. It’s always important to ensure your terms are closely tailored to your business practices and goals.

Pinterest Updates Terms of Service to Address Confusion