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In this episode of "Litigation Whiteboard," Steve Andre discusses the statute of limitations and tolling. He begins by defining the statute of limitations as a legal period within which a legal action must be initiated. Using copyright law as an example, he explains that a cause of action accrues when an infringement occurs. For instance, if infringement happens in 2000, the plaintiff has three years to file a claim, applicable to the statute of limitations. The video emphasizes that the content is meant for general legal information and not as specific legal advice.