Choosing a license for your work is very important, and you should consider carefully what the best choice for you is, and its implications. The most used licenses for Odoo modules are the GNU Lesser General Public License v3 (LGPLv3) and the Affero General Public License v3 (AGPLv3). The LGPL is more permissive and allows commercial modifications, without the need to share the corresponding source code. The AGPL is a stronger open source license, and requires derivative work and service hosting to share the source code. Learn more about the GNU licenses at https://www.gnu.org/licenses/.
A word about licenses
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