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In this tutorial, Michele discusses the term "indemnification." She explains that indemnification is often encountered when signing contracts, making settlements, or during business separations. To indemnify someone means to protect or "cover their back" by taking responsibility for them against any claims related to a specific situation, product, or agreement. It's essential to clearly define what the indemnification covers—specifically, the risks or issues that may arise if things go wrong. This understanding is crucial for ensuring that all parties know their responsibilities in any contractual or sale-related context.