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This is an issue I touched on a couple of weeks ago and I published an entry to the denyphorm blog
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Just had a look. I don't think the danger ATM is alteration. Lets suppose for a moment that you offer consumer related legal advice over the net. I send you a question "what can I do about..." and you send me a reply (ignoring https or payment issues) "You have the following rights.." Phorm, if they were in the consumer law business, don't need to spend one moment studying consumer law they have full access to my question and your (commercially valuable) reply and can use it in any way they see fit. The key issue here is that they propose to place themselves in the intestinal tract of the Internet. Your food is our food. (jeez - I should have gone into marketing)