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In this tutorial, Michele discusses the term "indemnification," explaining its significance in contract law and settlements. Indemnification refers to the act of protecting someone, often used in contexts involving contracts, separations, or sales transactions. To indemnify means to take responsibility for covering claims or losses related to the specified circumstances or products involved in the agreement. Michele emphasizes the importance of clearly defining what is being indemnified against to ensure all parties understand their responsibilities. The key takeaway is that indemnification involves one party agreeing to support another in facing potential claims.