Clause 24
This could-be-worse clause covers submissions of user-generated content.
The terms of this clause aren’t the best we’ve seen, but they're not the worst either.
CLAUSE TEXT:
You hereby grant YouTube a worldwide, non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions in connection with the YouTube Website and YouTube's (and its successors' and affiliates') business, including without limitation for promoting and redistributing part or all of the YouTube Website (and derivative works thereof) in any media formats and through any media channels.
EXPLANATION:
If you post something on YouTube, you retain the copyright in your work, and therefore can licence rights to other people. But YouTube has the worldwide right to use it, including to copy it, change it, distribute it, and to allow others to do all those things, without obtaining your specific approval or paying you.