diff --git a/CHANGELOG.md b/CHANGELOG.md
index ee10db9dbc912adc24907fd24fb240426fd99ab3..7959c2d0b242a4958cdd2e0198e4c9152d90d855 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,11 @@ documented in this file.
 ### Added
 
 ### Changed
+- Moved `license_terms/BSD-3-Clause.txt` and
+`license_terms/third_party_licenses.txt` to
+[LICENSE.md](https://gitlab.arm.com/networking/ral/-/blob/main/LICENSE.md) and
+[THIRD_PARTY_LICENSES.md](https://gitlab.arm.com/networking/ral/-/blob/main/THIRD_PARTY_LICENSES.md)
+respectively.
 
 ### Deprecated
 
diff --git a/CMakeLists.txt b/CMakeLists.txt
index 27da4d6fe37bfa83198307ff19892e44400f86aa..243d864e786bf0aed228e97c92009cc7225adab2 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -288,8 +288,8 @@ endif()
 install(TARGETS armral DESTINATION lib)
 install(DIRECTORY include/ DESTINATION include
         FILES_MATCHING PATTERN "*.h")
-install(DIRECTORY license_terms/ DESTINATION share/licenses/armral/license_terms
-        FILES_MATCHING PATTERN "*.txt")
+install(FILES LICENSE.md THIRD_PARTY_LICENSES.md
+        DESTINATION share/licenses/armral)
 
 if(BUILD_TESTING)
   include(CTest)
diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 24d142aa246b5023f0936b969d8a911e909bf28d..53a8a3013a88e2792e3afb713898db589f695019 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -13,8 +13,8 @@ Acceleration Library (Arm RAL):
 ## Licensing information
 
 Use of Arm RAN Acceleration Library is subject to a BSD-3-Clause
-license, the text of which can be found in the `license_terms` folder
-of your product installation. We will receive inbound contributions
+license, the text of which can be found in the `LICENSE.md` file
+in your product installation. We will receive inbound contributions
 under the same license.
 
 ## Writing and submitting patches
@@ -88,8 +88,10 @@ The directory structure of Arm RAL is:
 
 ```
 +-- CMakeLists.txt
++-- LICENSE.md
 +-- README.md
 +-- RELEASE_NOTES.md
++-- THIRD_PARTY_LICENSES.md
 +-- bench
 |   +-- CRC
 |       +-- bench.py
@@ -101,9 +103,6 @@ The directory structure of Arm RAL is:
 |   +-- ...
 +-- include
 |   +-- armral.h
-+-- license_terms
-|   +-- BSD-3-Clause.txt
-|   +-- ...
 +-- simulation
 |   +-- ...
 +-- src
diff --git a/license_terms/BSD-3-Clause.txt b/LICENSE.md
similarity index 100%
rename from license_terms/BSD-3-Clause.txt
rename to LICENSE.md
diff --git a/RELEASE_NOTES.md b/RELEASE_NOTES.md
index eef47a1746239b5de8c26be03a8c535cb7da6388..eee0c452959f142c143bca707b0a9ee720240b92 100644
--- a/RELEASE_NOTES.md
+++ b/RELEASE_NOTES.md
@@ -22,7 +22,7 @@ The following sections describe the product that this release note describes and
 its quality status at time of release.
 
 Use of Arm RAN Acceleration Library is subject to a BSD-3-Clause license, the
-text of which can be found in the `license_terms` folder of your product
+text of which can be found in the `LICENSE.md` file in your product
 installation. We will receive inbound contributions under the same license.
 
 ## Product description
@@ -58,7 +58,7 @@ The release is suitable for volume production under the terms of the Agreement.
 ## Licensing information
 
 Use of Arm RAN Acceleration Library is subject to a BSD-3-Clause license, the
-text of which can be found in the `license_terms` folder of your product
+text of which can be found in the `LICENSE.md` file in your product
 installation. We will receive inbound contributions under the same license.
 
 If you require a different license than BSD-3-Clause for compatibility with
diff --git a/license_terms/third_party_licenses.txt b/THIRD_PARTY_LICENSES.md
similarity index 50%
rename from license_terms/third_party_licenses.txt
rename to THIRD_PARTY_LICENSES.md
index 2f97c432252f621914fe78842e8c2e72963914a3..1db67f8a4729872d8a0a6d6f55b6d79ea97fa6b4 100644
--- a/license_terms/third_party_licenses.txt
+++ b/THIRD_PARTY_LICENSES.md
@@ -1,4 +1,3 @@
-===============================================================================
 This file lists the package level copyright and license information for third
 party software included in this release of 'Arm RAN Acceleration Library'.
 Refer to the License Agreement (End User License Agreement (EULA)) that
@@ -7,22 +6,19 @@ conditions relating to your use of such third party software.
 
 The information is grouped into two sections. The first section lists out
 details of third party software projects, including names of the applicable
-licenses as per the SPDX format (http://spdx.org/licenses). The second section
+licenses as per the SPDX format (<http://spdx.org/licenses>). The second section
 includes the full license text of all applicable licenses referenced in the
 first section.
-================================================================================
 
-SECTION 1: THIRD PARTY SOFTWARE PROJECTS
-================================================================================
+### SECTION 1: THIRD PARTY SOFTWARE PROJECTS
 
 This package does not depend on third party software.
 
-================================================================================
+---
 
-SECTION 2: APPLICABLE LICENSES
-================================================================================
+### SECTION 2: APPLICABLE LICENSES
 
 No applicable licenses.
 
-================================================================================
-END OF FILE: third_party_licenses.txt
+---
+END OF FILE: THIRD_PARTY_LICENSES.md