"By submitting, posting or displaying the content you give Google a perpetual, irrevocable, worldwide, royalty-free, and non-exclusive license to reproduce, adapt, modify, translate, publish, publicly perform, publicly display and distribute any content which you submit, post or display on or through, the services. This license is for the sole purpose of enabling Google to display, distribute and promote the services and may be revoked for certain services as defined in the additional terms of those services."
Simply, what this mean is that whatever you write or do on the internet using google chrome will be owned by google or at least that's how most of us understand it. This certainly caused an uproar in the online community but recently google has taken up actions because people where obviously disturbed by this, This statement is from Rebecca Ward the Senior Product Counsel for Google Chrome
“In order to keep things simple for our users, we try to use the same set of legal terms (our Universal Terms of Service) for many of our products. Sometimes, as in the case of Google Chrome, this means that the legal terms for a specific product may include terms that don’t apply well to the use of that product. We are working quickly to remove language from Section 11 of the current Google Chrome terms of service. This change will apply retroactively to all users who have downloaded Google Chrome.”
Basically, what they're trying to say is "Where sorry, we thought you weren't reading the EULA and we decided to try and cheat you" Can you believe what a load of B*** S*** this is? Just goes to show that we should be careful in downloading anything from the internet because even companies as reputable as google can probably scam us if we let them but the good news is that google chromes source code is distributed in an open license which leaves its EULA unenforceable what this simply means is that users could simply download the source code, compile it themselves, and use it without having to agree to Google's EULA which of course might take some work but you will at least have no need to worry about whether you are being scammed or not.