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hey this is elizabeth potts weinstein and today weamp;#39;re going to talk about indemnifications what are they why are they important and what should you watch out for what does indemnification mean or indemnify ing to merriam-webster it is about securing or making compensation to another person or entity for a hurt loss or damage so what weamp;#39;re talking about is kind of like insurance what youamp;#39;re doing is someone else is damaged in some way and youamp;#39;re making up for it youamp;#39;re compensating them for that hurt loss or damage so why should you have an indemnification clause in a contract why does anyone want one the idea here is that one side versus the other has information has control over something thatamp;#39;s happening in this transaction in this business deal in this situation but the other side doesnamp;#39;t have and it makes sense itamp;#39;s just fair for the side that has control for the side that has the information to be responsible if somet