Urban Legend: AOL has “the right to use anything in your IM messages without compensation to you.”

False.
An AOL spokesman explained to eWeek, the controversial clause was listed under the “Content You Post” section of the AIM Terms of Service to indicate that it applies only to material users post to public areas of the AIM service, not to user-to-user instant messages…
Urban Legends Reference Pages: Computers (My AIM Is True)