Compiling Erlang from source
You can build Erlang from source on your own, following the building and installation instructions. Or use the Kerl script. Kerl is a script that lets you easily build Erlang with a few commands. Follow the instructions to build.
Pre-built Binary Packages
Most OS package managers provide pre-built binary packages. You can also download the latest stable releases from Erlang Solutions. Erlang Solutions provides pre-built binary packages for OS X, Windows, Ubuntu, Debian, Fedora, CentOS, Raspbian and other operating systems.
Since OTP 18.0, Erlang/OTP is released under Apache License 2.0. The older releases prior to 18.0 were released under Erlang Public License (EPL), a derivative work of the Mozilla Public License (MPL). An English translation of EPL can be found here.