In today’s technology industry, most companies use open-source software. A failure to comply with open-source license terms may expose a company to potential legal liability and raise complications in corporate transactions. Accordingly, companies that use open-source software should consider implementing policies and procedures to help evaluate and track open-source software usage and compliance. This may include implementing formal, written policies that document the company’s open-source software policies. The nature and scope of this kind of policy should be tailored based on a company’s specific business model and needs and address all issues relevant to open-source evaluation, use, compliance and audits. This may include, for example, the process for the review and approval of open-source software, training for personnel who may use open-source software in their roles, and procedures for identifying and tracking the open-source software used in the business and their corresponding licenses.