Due to the considerable security risks, one of the most important things to ask before accepting the terms is, when you use a service and upload data to it, who owns that information? The user or the provider?
In some cases the terms and conditions will state the data uploaded is licensed to the provider and they can do whatever they want to do with it.
[How Risky Are Your Cloud Service Apps? Each application comes with unique risks to the enterprise, says Rajiv Gupta, CEO of Skyhigh Networks.]
SourceForge is example of code sharing depository that says whatever you upload becomes their property, explains Shah. "They have a license to make it available to other users. If I am a developer at financial bank working on a proprietary trading algorithm I want to be careful of uploading to other sites, or it may no longer proprietary to me and available to everyone."
Becca Lipman is Senior Editor for Wall Street & Technology. She writes in-depth news articles with a focus on big data and compliance in the capital markets. She regularly meets with information technology leaders and innovators and writes about cloud computing, datacenters, ... View Full Bio