Here is a summary of the patent, directly from the filing:
In one embodiment, a system includes one or more computing systems that implement a social networking environment and are operable to provide paid profile personalization functions to users. In particular embodiments, the user may select one or more social networking objects to replace advertisements or other elements that are normally displayed to visitors of the user's profile page that are otherwise controlled by the social networking system. In particular embodiments, the user may edit elements on their profile page that are otherwise automatically generated and controlled in design and content by the social networking system. In particular embodiments, the user is billed on a recurring basis for profile personalization.
Facebook said repeatedly that it's "free and always will be." It's a strong statement to make, as technology constantly changes and the business could have a high impact by these changes. Something like this would seem to get around that though, as Facebook by default could still be free, but you could pay for premium services or features.
Note: How ads space is managed on profile(left side fig) and check how ad disappears on (right side fig).
