Flickr today updated the Community Guidelines. "The main change is to allow for businesses, non-profits, and other organizations to have an account on Flickr, plus there is also been some general rejiggering and tightening up of the language overall.
The edits we have made donot change what Flickr is -- they just bring the Community Guidelines up to date with how people are already using the site.
One thing that has not changed is that selling and commercial activity is still not permitted even though we have reworded the text.
We have also created a Best Practices page to help organizations get started on the road to being great citizens of the Flickrverse," stated Flickr.
Check out the new Community Guidelines.