diff --git a/LICENSES.md b/LICENSES.md
index cae55154..82d62018 100644
--- a/LICENSES.md
+++ b/LICENSES.md
@@ -1,10 +1,20 @@
 # Code Licenses
 
-All code in _this_ repository is licensed under the GNU Affero General Public License version 3 (AGPLv3), the full text of which can be found at [http://www.gnu.org/licenses/agpl.html](http://www.gnu.org/licenses/agpl.html).
+For all code in this repository, BigchainDB GmbH ("We") either:
 
-If you want to make modifications to the code in _this_ repository and you want to keep those modifications proprietary, then you must get a commercial license from BigchainDB GmbH.
+1. owns the copyright, or
+2. owns the right to sublicense it (because all external contributors must agree to a Contributor License Agreement).
 
-All short code snippets embedded in the official BigchainDB _documentation_ are licensed under the Apache License, Version 2.0, the full text of which can be found at [http://www.apache.org/licenses/LICENSE-2.0](http://www.apache.org/licenses/LICENSE-2.0).
+Therefore We can choose how to license all the code in this repository. We can license it to Joe Xname under one license and Company Yname under a different license.
+
+The two general options are:
+
+1. You can get it under a commercial license for a fee. We can negotiate the terms of that license. It's not like we have some standard take-it-or-leave it commercial license. If you want to modify it and keep your modifications private, then that's certainly possible. Just ask.
+2. You can get it under the AGPLv3 license for free. You don't even have to ask us. That's because all code in _this_ repository is licensed under the GNU Affero General Public License version 3 (AGPLv3), the full text of which can be found at [http://www.gnu.org/licenses/agpl.html](http://www.gnu.org/licenses/agpl.html).
+
+If you don't like the AGPL license, then just ignore it. It doesn't affect any other license.
+
+All short code snippets embedded in the official BigchainDB _documentation_ are also licensed under the Apache License, Version 2.0, the full text of which can be found at [http://www.apache.org/licenses/LICENSE-2.0](http://www.apache.org/licenses/LICENSE-2.0).
 
 For the licenses on all other BigchainDB-related code, see the LICENSE file in the associated repository.