Google introduced their newest product today – Google Drive.

“A place where you can create, share, collaborate, and keep all of your stuff.”

Starting with 5 GB of free storage , Google Drive aims to compete directly with the very popular Dropbox.  However, one big difference may be in the fine print.

The fine folks over at discovered some interesting details about file and content ownership for items stored on Google Drive.  Apparently once you upload it, they own it and can do whatever they want with it.  Even if, or after, you close your account!

Full details about the terms and conditions of Dropbox, Microsoft Skydrive and Google Drive are all provided on the page.  If you plan on storing original works on Google Drive, the terms and conditions may be something you should review.

**UPDATE** – The file and content ownership for items stored on Google Drive were highly publicized the first few weeks after Google Drive’s release. It seems all the legal mumble jumble isn’t as scary as first though. We’ve been using Google Drive without hesitation.

Below is the introduction video to Google Drive.  You can read the official release here.