Here is a blog post listing a dozen important U S laws every blogger should know; a must-read post. Via /. There are some surprises–the legal issues behind editing/deleting comments for example:
It may come as a surprise to many bloggers, but you do not actually own the user-driven content on your site. Instead, it is actually the copyrighted property of the author. The analysis is pretty straightforward; copyright law only requires that an author create an original work and write it out in order to grant that person a copyright. The fact that you do not own the user-driven content on your site can create a number of headaches for bloggers, such as an obligation to remove a comment whenever the author requests.
But by including a terms of service which spells out that you will have a license in all content posted in the site and more specifically that you will not have a duty to modify or withdraw posts but you may do so if you choose, you can ensure that you have effective control over the user-driven content on your site even if you do not have actual ownership of the content.
The one about the duty to monitor comments, and the liabilities might also be relevant to almost all bloggers. Take a look!