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In this tutorial, Michele discusses the term "indemnification." This term often arises in contexts like signing contracts, making settlements, or during business separations. To indemnify someone means to "cover their back" by taking responsibility for any claims or issues that arise related to a product or situation. It's crucial to clearly define what one is indemnifying against, such as potential problems that could occur. The concept emphasizes the importance of understanding the responsibilities involved in indemnification when engaging in contractual agreements or transactions.