3. Ownership. IFTTT shall own all right, title, and interest (and all related moral rights and intellectual property rights) in and to the Developer Tool, Service, and Content

12. Patent License. Licensee hereby grants IFTTT a nonexclusive, sublicensable, perpetual, fully-paid, worldwide license to fully exercise and exploit all patent rights with respect to improvements or extensions created by or for Licensee to the API

And many more things that really are not too acceptable.

See this blog post

My heroic and lazy stand against ifttt