PrivacyPal is a product imagined, designed and built in 48-hours for Koding's First Global Virtual Hackathon. We were given the brief a couple of hours before the event started, and it asked us to address the issue with on-line terms & conditions and privacy policies, namely the fact that no-one has ever read one except for, perhaps, maybe the people who write them. Just kidding, not even them.
We spent a couple of hours thinking of building on top of Aza Raskin's proposal for a global iconography for privacy policies and offer a service where users can immediately know, straight from their own browser, how any website is using their data, even before giving any of it away. You can use it as a Chrome extension, always sniffing around for details on the website you're viewing, or you can visit PrivacyPal's website to check any URL beforehand and prevent unwanted use of your data. We didn't win, but our prototype was actually mistaken for a real, full-fledged product, which is not all that bad.