Should I use nofollow in links to my disclaimer and privacy policy?

Matt's answer:
CUTTS: Okay, we have a question from Michelle in the Netherlands, who asks, “Is it a good thing to put ‘nofollow’ in links to a disclaimer, privacy statement and other pages like that with the internal PageRank in mind? I hear different stories about this.” Good question. The reason that I would use “nofollow” is if you truly don’t want a Page Index at all. So for example a log-in page, Googlebot doesn’t know how to log in. And that’s not of any value for users to have. I can imagine that a disclaimer or a privacy statement could be kind of useful. So, you know, you can put those links on. It’s not like it’s going to cause you a spam penalty. But truthfully, I would tend to worry more about, you know, having enough good links because you have enough great content that you tend to get a lot of people linking to you and you tend to get a lot of good coverage in Google’s Index. It’s a second order effect at best. I really wouldn’t spend a lot of time saying, “Oh, I’m going to ‘nofollow’ all my links to my stuff that I don’t care about,” you know. Typically, you’d do better by maybe linking or not linking to stuff. You know, link to a privacy policy once, but you don’t have to link it on every page of your site, for example, or something like that. But really, I would only use it for the pages that you really don’t want to be in Google at all. Don’t, you know, worry so much about sculpting. That tends to take a lot more time and not really be as big a bang for your buck compared to just putting your efforts in on making great content that will attract links.
by Matt Cutts - Google's Head of Search Quality Team