MIT License: Allows for unrestricted commercial use, modification, and distribution of the software. Companies favor the MIT license for its permissiveness and the ability to use the software in proprietary projects without disclosing the source code. GPL License: Also allows for commercial use, but with the stipulation that any modifications or distributed versions are open-sourced under the GPL. This can be a deterrent for commercial projects that do not wish to share their source code.
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