Updated readme and added MIT license.

MIT-LICENSE

@@ -0,0 +1,20 @@
+Copyright (c) 2003, 2004 Jim Weirich
+
+Permission is hereby granted, free of charge, to any person obtaining
+a copy of this software and associated documentation files (the
+"Software"), to deal in the Software without restriction, including
+without limitation the rights to use, copy, modify, merge, publish,
+distribute, sublicense, and/or sell copies of the Software, and to
+permit persons to whom the Software is furnished to do so, subject to
+the following conditions:
+
+The above copyright notice and this permission notice shall be
+included in all copies or substantial portions of the Software.
+
+THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND,
+EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF
+MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND
+NONINFRINGEMENT. IN NO EVENT SHALL THE AUTHORS OR COPYRIGHT HOLDERS BE
+LIABLE FOR ANY CLAIM, DAMAGES OR OTHER LIABILITY, WHETHER IN AN ACTION
+OF CONTRACT, TORT OR OTHERWISE, ARISING FROM, OUT OF OR IN CONNECTION
+WITH THE SOFTWARE OR THE USE OR OTHER DEALINGS IN THE SOFTWARE.

README.md

@@ -16,6 +16,13 @@ as well as a few which are purely asthetical like Focus.
 
 Please refer to the [manual] for the full API documentation and examples.
 
+## Features
+
+* Tags
+* Autocomplete
+* AJAX loading
+* Placeholder text
+
 ## Example
 
     <textarea id="textarea" rows="1"></textarea>
@@ -43,13 +50,10 @@ The steps to using TextExt are as follows:
 
 ## License
 
-The TextExt component is released under the open source commercial license. This
-means that while the source is open to anyone for viewing and modification, you
-have to [purchase] a commercial license if you intend to use TextExt.
-
-All source contributions automatically become part of the TextExt source if
-accepted and the original author shall give up any further claim.
+The TextExt component is released under the open source MIT. This means that you
+can use it any way you want, but I would very much appreciate if you take a minute
+and support the project through a [donation].
 
 [manual]: http://textextjs.com/manual/index.html
-[purchase]: http://textextjs.com/purchase.html
+[donation]: http://textextjs.com/donate.html