Licence aspects when using third party library [closed]

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We are developing a web application for a customer which uses third-party libraries in binary form. For example one library is under the MIT licence which only requires to include the licence term with the software.

What is the best practise for doing this? Create a licence txt file in the main folder of the web app and specify the used third-party libraries with their licence terms?

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What is the best practise for doing this? Create a licence txt file in the main folder of the web app and specify the used third-party libraries with their licence terms?

yes, it should be like that.