Terms of Service; Didn't Read seeks to make complicated Terms of Service policies readable through a peer-reviewed process. It has a plain-language list of what is in a web service's terms, and a simple rating system next to it. When enough people have reviewed the service, it gets a class rating from a user's perspective.
Terms of Service; Didn't Read is still a work in progress, but it has already rated most major services. It comes in handy when you want to know what rights you have, what content you own and how a service is campaigning to protect you on a larger level. Check it out for yourself, and if you want to help build the database, join the Google Group.