diff --git a/.goreleaser.yml b/.goreleaser.yml
index 7a8fcec86..7645897ee 100644
--- a/.goreleaser.yml
+++ b/.goreleaser.yml
@@ -63,6 +63,7 @@ release:
     ## Installation
 
     ```bash
+    curl -L -s https://github.com/operator-framework/operator-lifecycle-manager/releases/download/{{ .Env.OLM_V0_VERSION }}/install.sh | bash -s {{ .Env.OLM_V0_VERSION }}
     kubectl apply -f https://github.com/cert-manager/cert-manager/releases/download/{{ .Env.CERT_MGR_VERSION }}/cert-manager.yaml
     kubectl wait --for=condition=Available --namespace=cert-manager deployment/cert-manager-webhook --timeout=60s
     kubectl apply -f https://github.com/operator-framework/rukpak/releases/latest/download/rukpak.yaml
diff --git a/Makefile b/Makefile
index a229fbabb..816a7bdd1 100644
--- a/Makefile
+++ b/Makefile
@@ -7,6 +7,7 @@ export IMAGE_TAG ?= devel
 export GO_BUILD_TAGS ?= upstream
 export CERT_MGR_VERSION ?= v1.9.0
 export GORELEASER_VERSION ?= v1.16.2
+export OLM_V0_VERSION ?= v0.24.0
 export WAIT_TIMEOUT ?= 60s
 IMG?=$(IMAGE_REPO):$(IMAGE_TAG)
 
diff --git a/README.md b/README.md
index 74df5d09e..741e84137 100644
--- a/README.md
+++ b/README.md
@@ -1,8 +1,12 @@
 # operator-controller
-// TODO(user): Add simple overview of use/purpose
+The operator-controller is the central component of Operator Lifecycle Manager (OLM) v1. It extends Kubernetes with an API through which users can install Operators.
 
 ## Description
-// TODO(user): An in-depth paragraph about your project and overview of use
+OLM v1 is the follow-up to OLM v0, located [here](https://github.com/operator-framework/operator-lifecycle-manager). It consists of four different components, including this one, which are as follows:
+* operator-controller
+* [deppy](https://github.com/operator-framework/deppy)
+* [rukpak](https://github.com/operator-framework/rukpak)
+* [catalogd](https://github.com/operator-framework/catalogd)
 
 ## Getting Started
 You’ll need a Kubernetes cluster to run against. You can use [KIND](https://sigs.k8s.io/kind) to get a local cluster for testing, or run against a remote cluster.
diff --git a/RELEASE.md b/RELEASE.md
new file mode 100644
index 000000000..b5338994e
--- /dev/null
+++ b/RELEASE.md
@@ -0,0 +1,53 @@
+# Release Process for OLM v1
+
+## Choosing version increment
+When making releases for operator-controller, version increments should adhere strictly to Semantic Versioning. In short:
+* Major: API breaking change(s) are made.
+* Minor: Backwards compatible features are added.
+* Patch: Backwards compatible bug fix is made.
+
+When a major or minor release being made is associated with one or more milestones, please ensure that all related features have been merged into the `main` branch before continuing.
+
+## Creating the release
+Note that throughout this guide, the `upstream` remote refers to the `operator-framework/operator-controller` repository.
+
+The release process differs slightly based on whether a patch or major/minor release is being made.
+
+### Patch Release
+#### Step 1
+In this example we will be creating a new patch release from version `v1.2.3`, on the branch `release-v1.2`.  
+First ensure that the release branch has been updated on remote with the changes from the patch, then perform the following:
+```bash
+git fetch upstream release-v1.2
+git pull release-v1.2
+git checkout release-v1.2
+```
+
+#### Step 2
+Create a new tag, incrementing the patch number from the previous version. In this case, we'll be incrementing from `v1.2.3` to `v1.2.4`:
+```bash
+## Previous version was v1.2.3, so we bump the patch number up by one
+git tag v1.2.4
+git push upstream v1.2.4
+```
+
+### Major/Minor Release
+#### Step 1
+Create a release branch from `main` branch for the target release. Follow the pattern `release-<MAJOR>.<MINOR>` when naming the branch; for example: `release-v1.2`. The patch version should not be included in the branch name in order to facilitate an easier patch process.
+```bash
+git checkout main
+git fetch upstream main
+git pull main
+git checkout -b release-v1.2
+git push upstream release-v1.2
+```
+
+#### Step 2
+Create and push our tag for the current release.
+```bash
+git tag v1.2.0
+git push upstream v1.2.0
+```
+
+### Post-Steps
+Once the tag has been pushed the release action should run automatically. You can view the progress [here](https://github.com/operator-framework/operator-lifecycle-manager/actions/workflows/goreleaser.yaml). When finished, the release should then be available on the [releases page](https://github.com/operator-framework/operator-controller/releases).