diff --git a/LICENSE.md b/LICENSE.md
index b71540f9..ddfe502f 100644
--- a/LICENSE.md
+++ b/LICENSE.md
@@ -1,15 +1,23 @@
 # VCV Rack Licenses
 
-All **source code** in the `src/` directory is copyright © 2018 Andrew Belt and licensed under the [GNU Lesser General Public License Version 3](https://www.gnu.org/licenses/lgpl-3.0.en.html). This allows open- and closed-source plugins to link to the Rack application while disallowing closed-source forks of Rack itself.
+All **source code** in the `src/` directory is copyright © 2019 Andrew Belt and licensed under the [GNU Lesser General Public License Version 3](https://www.gnu.org/licenses/lgpl-3.0.en.html).
+This allows open- and closed-source plugins to freely link to the Rack application while disallowing closed-source forks of Rack itself.
 
-All **header files and scripts** in this repository *excluding* the `src/` directory are copyright © 2018 Andrew Belt and licensed under the [BSD-3-Clause License](https://opensource.org/licenses/BSD-3-Clause). This allows open- and closed-source plugins to compile Rack header files into their binaries.
+All **header files and scripts** in this repository *excluding* the `src/` directory are copyright © 2019 Andrew Belt and licensed under the [BSD-3-Clause License](https://opensource.org/licenses/BSD-3-Clause).
+This allows open- and closed-source plugins to freely compile Rack header files into their binaries.
 
 Licenses of **third-party libraries** are listed in [LICENSE-dist.txt](LICENSE-dist.txt).
 
-The **Component Library graphics** in the `res/ComponentLibrary` directory are copyright © 2018 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC 4.0](https://creativecommons.org/licenses/by-nc/4.0/). Commercial plugins must request a commercial license to use Component Library graphics by emailing contact@vcvrack.com.
+The **Component Library graphics** in the `res/ComponentLibrary` directory are copyright © 2019 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC 4.0](https://creativecommons.org/licenses/by-nc/4.0/).
+You may not freely sell plugins using Component Library graphics.
+However, a free commercial license is available for plugins sold through the [VCV Store](https://vcvrack.com/plugins.html).
+Email contact@vcvrack.com for more information about licensing or the VCV Store.
 
-The **Core panel graphics** in the `res/Core` directory are copyright © 2018 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC-ND 4.0](https://creativecommons.org/licenses/by-nc-nd/4.0/). You may not create derivative works.
+The **Core panel graphics** in the `res/Core` directory are copyright © 2019 [Grayscale](http://grayscale.info/) and licensed under [CC BY-NC-ND 4.0](https://creativecommons.org/licenses/by-nc-nd/4.0/).
+You may not create derivative works.
 
 The **VCV logo and icon** are copyright © 2017 Andrew Belt and may not be used in derivative works.
 
-The **"VCV" name** is trademarked and may not be used for unofficial products. However, it is acceptable to use the phrase "for VCV Rack" for promotion of your Rack plugin. For all other purposes, email contact@vcvrack.com.
+The **"VCV" name** is trademarked and may not be used for unofficial products.
+However, it is acceptable to use the phrase "for VCV Rack" for promotion of your Rack plugin.
+For all other purposes, email contact@vcvrack.com.