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In this video, Elizabeth Potts Weinstein discusses indemnifications, defining it as the act of compensating another person or entity for harm, loss, or damage. Indemnification is likened to insurance, where one party reimburses the other for damages incurred. Weinstein emphasizes the importance of including an indemnification clause in contracts to ensure fairness in transactions, particularly when one party has more control or information about the situation than the other. She illustrates this with an example of hiring someone to write, highlighting that the party with more control should be responsible if issues arise.
