diff --git a/cyclonedx-ruby.gemspec b/cyclonedx-ruby.gemspec
index 50bc271..8b19b10 100644
--- a/cyclonedx-ruby.gemspec
+++ b/cyclonedx-ruby.gemspec
@@ -16,6 +16,7 @@ Gem::Specification.new do |spec|
   spec.add_dependency('nokogiri', '~> 1.8')
   spec.add_dependency('ostruct', '~> 0.1')
   spec.add_dependency('rest-client', '~> 2.0')
+  spec.add_dependency('activesupport')
   spec.add_development_dependency 'rake', '~> 12'
   spec.add_development_dependency 'rspec', '~> 3.7'
 end
diff --git a/lib/bom_builder.rb b/lib/bom_builder.rb
index 388614e..ccf5aad 100644
--- a/lib/bom_builder.rb
+++ b/lib/bom_builder.rb
@@ -22,6 +22,7 @@
 #
 # frozen_string_literal: true
 require 'bundler'
+require 'bundler/cli'
 require 'fileutils'
 require 'json'
 require 'logger'
@@ -90,6 +91,9 @@ def self.setup(path)
       opts.on('-f', '--format bom_output_format', '(Optional) Output format for bom. Currently support xml (default) and json.') do |bom_output_format|
         @options[:bom_output_format] = bom_output_format
       end
+      opts.on('-l', '--include-license-text', '(Optional) Include full license text') do |l|
+        @options[:include_licenses] = l
+      end
       opts.on_tail('-h', '--help', 'Show help message') do
         puts opts
         exit
@@ -170,6 +174,19 @@ def self.specs_list
         else
           object.license_name = gem['licenses'].first
         end
+
+        if @options[:include_licenses]
+          if spec = Bundler::CLI::Common.select_spec(dependency.name, :regex_match)
+            gem_path = spec.full_gem_path
+            potential_license_files.each do |potential_license_file|
+              potential_license_full_path = "#{gem_path}/#{potential_license_file}"
+              if File.exist?(potential_license_full_path)
+                object.license_text = File.read(potential_license_full_path)
+                break
+              end
+            end
+          end
+        end
       end
 
       object.author = gem['authors']
diff --git a/lib/bom_component.rb b/lib/bom_component.rb
index c2af8fe..f27c212 100644
--- a/lib/bom_component.rb
+++ b/lib/bom_component.rb
@@ -25,21 +25,24 @@ def hash_val
       ]
     }
 
-    if @gem['license_id']
-      component_hash[:"licenses"] = [
-        "license": {
-          "id": @gem['license_id']
-        }
-      ]
-    elsif @gem['license_name']
-      component_hash[:"licenses"] = [
-        "license": {
-          "name": @gem['license_name']
-        }
-      ]
+    if @gem['license_text'] || @gem['license_name']
+      license_section = {
+        license: {}
+      }
+
+      if @gem['license_id']
+        license_section[:license][:id] = @gem['license_id']
+      elsif @gem['license_name']
+        license_section[:license][:name] = @gem['license_name']
+      end
+
+      if @gem['license_text']
+        license_section[:license][:text] = { content: @gem['license_text'] }
+      end
+
+      component_hash[:licenses] = [license_section]
     end
 
     [component_hash]
-
   end
-end
\ No newline at end of file
+end
diff --git a/lib/bom_helpers.rb b/lib/bom_helpers.rb
index 01c0392..af36367 100644
--- a/lib/bom_helpers.rb
+++ b/lib/bom_helpers.rb
@@ -104,3 +104,19 @@ def get_gem(name, version)
     nil
   end
 end
+
+def potential_license_files
+  %w[
+    COPYING
+    LICENSE
+    license.md
+    Licence.md
+    LICENSE.md
+    LICENSE.txt
+    License.rdoc
+    LICENSE.rdoc
+    MIT-LICENSE
+    MIT-LICENSE.txt
+  ]
+end
+