But you may not think so. It's true that few people actually read privacy policies. And those who do usually get frustrated by the impenetrable legalese. So a lot of website owners figure it doesn't matter. But the truth is that it does matter.
What's in the Terms and Conditions?
Basically, it says that you don't offer any guarantees regarding the accuracy or applicability to the information on the website, that the website will change, that you own all its intellectual property, that users are required to behave while using the website, and that you aren't liable for any problems.
Once generated, these two documents belong to you and can be edited and used in any way you like.