diff --git a/README b/README
index 35bcb12761..5e5a1ce30d 100644
--- a/README
+++ b/README
@@ -1,55 +1,79 @@
-http://www.OpenELEC.tv
+http://OpenELEC.tv
 
 OpenELEC - Open Embedded Linux Entertainment Center
 
-OpenELEC runs XBMC, a complete media center solution (xbmc.org).
-The base system has been designed and built from the ground up to be as
-efficient as possible – consuming only a tiny footprint, cutting edge
-hardware support and a set-top box experience.
+OpenELEC runs XBMC, an award-winning free and open source (GPL) software media 
+player and entertainment hub for digital media (http://xbmc.org).
+The base system has been designed and built from the ground up to be as 
+efficient as possible – consuming only a tiny footprint, cutting edge hardware 
+support for a set-top box experience.
 
 Source code:
 - https://github.com/OpenELEC/OpenELEC.tv
 
 Installation:
-- Please read INSTALL for instructions how to install.
+- Please read INSTALL for instructions on how to install.
 
 Known issues:
 - Testing snapshot
 
+License:
+- OpenELEC is released under GPLv2. Please refer to the "licenses" folder and 
+  source code for clarification on upstream licensing.
+
+Copyright:
+- Since OpenELEC includes code from many up stream projects it includes many 
+  copyright owners. OpenELEC makes NO claim of copyright on any upstream code. 
+  However all OpenELEC authored code is copyright openelec.tv.
+  For a complete copyright list checkout the source code to examine the headers.
+  Unless expressly stated otherwise all code submitted DIRECTLY to the OpenELEC 
+  project (in any form) is licensed under GPLv2 and the Copyright is donated to 
+  openelec.tv.
+  This allows the project to stay manageable in the long term by giving us the
+  freedom to maintain the code as part of the whole without the management 
+  overhead of preserving contact with every submitter ever e.g. move to GPLv3.
+  You are absolutely free to retain copyright. To retain copyright simply add a 
+  copyright header to every submitted code page.
+  If you are submitting code that is not your own work it is the submitters 
+  responsibility to place a header stating the copyright. 
+
 Features:
-- System size ~ 90MB
+- System size ~ 90 - 130MB
 - Minimal hardware requirements
-- Simple configuration
+- Ultra fast boot
+- Optimized builds for Atom, ION, Intel, Fusion
+- Simple configuration via XBMC
+- Plug and Play external storage
 
 Software:
-- xbmc HTPC software – View/Manage all your media.
-- samba server – File transfer from any PC client
-- Transmission – bittorrent client
+- XBMC HTPC software – View/Manage all your media.
+- Samba server – File transfer from any PC client
+- SSH - remote debugging console
 - IR/Bluetooth Remote Control
 
 Notes:
-- Login details for SSH are user: “root” password: “openelec”
+- Login details for SSH are user: “root” password: “openelec”.
   SSH allows command line access to your openelec.tv machine for configuration
-  and file transfer. Linux/mac clients can natively use SSH, windows users
+  and file transfer. Linux/mac clients can natively use SSH, windows users 
   might want to try PuTTY for their terminal access.
-- $HOME is mounted on /storage (the second ext4 partition on the drive). All
-  data that you transfer to the machine will go here, the rest of the system is
-  read-only with the exception of /var (which contains runtime configuration
-  data).
+- $HOME is mounted on /storage (the second ext4 partition on the drive). 
+  All data transfered to the machine will go here, the rest of the system is
+  read-only with the exception of /var (containing runtime configuration data).
 - Manual update/downgrade procedure is as follows:
-  Extract the snapshot and navigate to the 'target' directory
+  Extract the snapshot and navigate to the 'target' directory.
   Copy KERNEL and SYSTEM to the 'Update' network share (or /storage/.update) on
-  your openelec machine.
-  Your system will automatically upgrade during the next reboot.
-- Automatic mounting of filesystems is supported. Devices such as USB Flash
-  Sticks can be plugged into a running machine and will be mounted to /media,
+  your openelec machine. Your system will automatically upgrade during the 
+  next reboot.
+- Automatic mounting of filesystems is supported. Devices such as USB Flash 
+  sticks can be plugged into a running machine and will be mounted to /media,
   showing up in xbmc’s GUI.
-- Comments and questions are more than welcome, help is even better and patches
+- Comments and questions are more than welcome, help is even better and patches 
   are absolutely perfect!!
 
-Please visit http://www.openelec.tv or log onto our IRC chatroom #openelec on
-freenode.
+Questions/Support:
+ - Forums on http://openelec.tv
+ - IRC chatroom #openelec on Freenode
 
-Happy XBMC'ing
+Happy OpenELEC'ing
 
-OpenELEC Development Team
+OpenELEC Development Team
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