Hi

I am new to odoo and was looking for an opensource inventory management system that I can add to have specific features specific to my local market for my clients. So came across odoo which is LGPL3. My understanding is that I can get the source and extend it and use it for commercial purposes as long as I keep the copyrights and license of the existing code the same. 

Is my understanding correct? 

As I only need a limited set of features, can i clone/fork it and leave what I need and delete the rest and add to it?

And can i use it for my own commercial purposes?

Regards