diff --git a/MIT-LICENSE b/MIT-LICENSE
new file mode 100644
index 0000000..c6ffa8e
--- /dev/null
+++ b/MIT-LICENSE
@@ -0,0 +1,20 @@
+Copyright 2012 Stephan Hagemann
+
+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.
diff --git a/README.md b/README.md
index f22abb1..7689c29 100644
--- a/README.md
+++ b/README.md
@@ -1,7 +1,34 @@
-== The Next Big Thing [![Build Status](https://secure.travis-ci.org/shageman/the_next_big_thing.png)](https://secure.travis-ci.org/shageman/the_next_big_thing)
+# The Next Big Thing [![Build Status](https://secure.travis-ci.org/shageman/the_next_big_thing.png)](https://secure.travis-ci.org/shageman/the_next_big_thing)
 
-An application that let's you sign up for the next big thing.
+## What is this?
 
-== Running the test suite
+A full-fledged portal to announce the next big thing! Jumpstart the PR campaign for your next big thing by standing on the shoulder of a giant: The next big Thing!!
 
-`./build.sh`
\ No newline at end of file
+## What is this really?
+
+A sample project showcasing the use of unbuilt Rails Engines and Gems. The entire app has been developed using TDD - follow the commits to see the parts evolve. Current state:
+
+*   The main page is delivered by the `Teaser` Engine: `engines/teaser`
+*   The `Annoyance` service is provided by the `Annoyance` gem: `gems/annoyance`
+*   The main Rails application does not contain any application code: it does not even have an `app` directory. It is soley responsible for encapsulating and mounting the engine in the right place.
+
+## Running the test suite
+```bash
+git clone https://github.com/shageman/the_next_big_thing.git
+cd the_next_big_thing
+bundle
+./build.sh```
+
+## Contributing
+
+I highly appreciate it!
+
+Fork, pull, create, commit, push, request pull.
+
+## License
+
+    Copyright (c) 2012 Stephan Hagemann
+    twitter.com/shageman
+    %w(stephan.hagemann gmail.com) * "@"
+
+    Released under the MIT license. See MIT-LICENSE file for details.
\ No newline at end of file