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In this tutorial, Michele explains the term "indemnification." This concept often arises in contexts such as contract signing, settlements, or business separations. To indemnify someone means to "cover their back" by taking responsibility for any claims made against them related to a specific circumstance, such as the sale of a product. Michele emphasizes the importance of clearly defining what is being indemnified against, ensuring that all parties involved understand the scope of responsibility in case something goes wrong. The discussion highlights the need for clarity in indemnification agreements to avoid future disputes.
