In a recent VentureFizz article, “Should you use open source code in your product? It all depends on the license,” Goodwin Procter Partner and Founders Workbench contributor Steve Charkoudian underscores two important points for founders to keep in mind: being aware of the various types of open source code they are planning to use in their product and understanding the licensing terms that correspond with the code.
“Basing your commercial product or service on open source software without understanding the terms of the license can be detrimental to the success of your company and could even kill future investment and acquisition opportunities,” writes Steve. “The challenge for founders is to understand open source licensing terms so the software can be used without jeopardizing the confidentiality of your own source code, or the integrity of future revenue streams.”
To find out more about the common types of open source licenses, and to learn three tips to consider when evaluating whether or not to use open source to build your software product, read the full article here.