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There are plenty of open source licenses out there. What should a person especially keep in mind while they're selecting a license for their project?

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    See gnu.org/licenses/license-recommendations.html and choosealicense.com – user114 Jun 23 '15 at 19:36
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    This question is too broad, maybe if you are having issues to choose, edit the question to get more useful answers. My answer right now, would be 'It depends on your goals and libraries you plan to link to your project' – E. Celis Jun 23 '15 at 19:38
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    @Tichodroma I know about this resource, but it is mostly consisted out of recommendations for free software -compliant licenses without actually explaining why should a person use it. – r3bl Jun 23 '15 at 19:39
  • @ecelis It should be more specific now. – r3bl Jun 23 '15 at 19:41
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Mainly you want to decide if you license it permissive or not. Other than that, some licenses are matured more and are tested better in courts. Choose a license should be helpful in picking a license.

Basically it recommends MIT if you want a permissive license, Apache if you want to consider software patents and GPL if you want to keep the project open source.

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