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In this segment, Michele discusses the concept of indemnification, a term often encountered in contracts, settlements, or business separations. To indemnify means to protect someone from claims or liabilities that may arise in relation to a specific situation, product, or agreement. Essentially, it involves agreeing to cover another party's back by assuming responsibility for any potential claims against them. It's crucial to clearly define the scope of indemnification to understand what specific circumstances or issues one is agreeing to cover.