Microsoft, Google, Yahoo!, and Vodafone have signed an agreement with online activists, human rights groups, and press freedom groups to draw up an Internet code of conduct to protect free speech and privacy of Web users.

These four companies will together develop a code of conduct with a coalition of nongovernmental organizations (NGOs) to promote freedom of expression and privacy rights. Besides, they will establish a set of rules that will govern how they deal with censorship and other restrictions on human rights.

In a joint statement, the companies said that they aim to come up with a code of conduct by the end of this year that would counter such trends as the increased jailing of Internet journalists, monitoring of legitimate online activity, and censorship. They would also develop a framework that would hold signatories accountable for their actions in the areas of freedom of expression and privacy rights.

According to a Google spokesman, Google has helped initiate this process as part of their commitment to protecting human rights and privacy of their users around the world. And, they look forward to working with all the parties in an effort to arrive at global principles that can help them protect Internet users in countries that seek to curtail free expression.

As per the latest reports, talks are being led by the Washington-based Center for Democracy and Technology, and the San Francisco-based Business for Social Responsibility. Both the organizations are trying to craft a code to hold companies accountable if they cooperate with governments to suppress free speech or violate human rights.

Leslie Harris, Executive Director, Center for Democracy and Technology, pointed out that technology companies have played a vital role building the economy, and providing tools important for democratic reform in developing countries. But some governments have found ways to turn technology against their citizens, monitoring legitimate online activities, and censoring democratic material.

Harris said it is vital they identify solutions that preserve the enormous democratic value provided by technological development, while at the same time protecting human rights and civil liberties of those who stand to benefit from that expansion.

Meanwhile, groups participating in the development of the guidelines include Berkman Center for Internet and Society at Harvard Law School; Business for Social Responsibility; Electronic Frontier Foundation; Human Rights Watch; and Reporters Without Borders.