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In this tutorial, Michele discusses the term "indemnification," which often arises in contexts such as contracts, settlements, or business separations. To indemnify means to cover someone’s back by taking responsibility for them in relation to claims made against them regarding a specific product or situation. It’s essential to clearly define the circumstances for which you are providing indemnification, like potential issues that may arise. Understanding this term is crucial for anyone involved in agreements or transactions, as it helps clarify obligations and protections related to liabilities.
