The Standard Label Kickstarter project is raising money to design a label that will standardize how Web sites let you know why they want your data and what they'll do with it. I'm a backer and I hope you will be too!
Some years ago, based on an idea that came up on a train ride to the airport from OSCON, Kaliya Hamlin, Aldo Castaneda and I put together a The paper for the W3C Workshop on Transparency and Usability of Web Authentication was accepted for presentation on identity rights agreements. The idea is that you ought to be able to mark up data you share to let people know how it can be used. Think Creative Commons for personal data. Recently a number of people, including myself, Drummond Reed, and Marc Davis, discussed a similar idea at a WEF Tiger day.
Joe Andrieu has a proposal that is slightly less ambitious and serves as the launching pad for more complete solutions. Joe's idea is simple and easy to understand. Just like we have a standard label for drugs so that people can more easily understand how to take a drug and what it does, we should have a standard label for sites that want you to share your personal information so it's easy to understand what's going to happen if you say yes. Contrast this with the current EULA model where people are faced with 70 pages of information in a non-standard format that they need to understand if they're to truly be smart about what they share.
Joe has a Kickstarter project for Standard Label to get money to design the label. If you care about understanding what you're sharing and think people should be smarter about what they share, then I encourage you to support this project, even if you can only give a $1, give something so show you're behind the work. Here's the video from the Kickstarter page.
Now, go and back the project!